Core Insights - The article discusses the recent trends in gold investment, highlighting the continuous increase in gold reserves by the People's Bank of China and the implications of the U.S. government shutdown on economic forecasts [3]. Market Analysis - The world's largest gold ETF held 1,042.06 tons of gold as of November 7, with an increase of 1.71 tons from the previous day and a net increase of 2.86 tons for the month [2]. - The People's Bank of China has increased its gold reserves for 12 consecutive months, with October showing continued growth [3]. - The U.S. government shutdown has lasted 38 days, affecting federal employee salaries and leading to concerns about a potential slowdown in GDP growth for Q4 [3]. - Wall Street analysts warn that the combination of three years of quantitative tightening and significant government debt issuance is pushing bank reserves into a precarious situation [3]. Economic Indicators - A New York Fed survey indicates that 71% of respondents expect the unemployment rate to rise in the next year, double the rate from the previous year [3]. - Short-term inflation expectations have decreased, while consumer confidence in the U.S. is nearing record lows, contributing to a weaker dollar and increased expectations for interest rate cuts [3]. - The price of spot gold in Hong Kong rose to $3,999.68 per ounce amid these economic conditions [3]. Technical Analysis - For short-term trading, the support level for gold is around $3,985.00, with bullish targets set at $4,020.00 and $4,028.00 if the price remains above this level [4]. - Alternative strategies suggest a bearish outlook if the price falls below $3,985.00, targeting $3,964.00 and $3,948.00 [5]. - The RSI technical indicator is currently near the neutral zone, indicating potential for further price movement [7].