December Gold futures corrected 11.29% from its high on October 20th to its low on October 28th, and is now potentially forming a double bottom pattern. A daily settlement in Gold futures above $4,059.90 would trigger this pattern, with a measured move target all the way to $4,218.50. As risk assets sell off, many investors use Gold as a store of value to protect cash, differentiating it from a flight to safety often involving government bonds or the US Dollar. The CME Fed Watch tool shows the market currently pricing in a 70% probability for a rate cut at the December meeting, but only three more cuts through October 2027, which remains a headwind for the yellow metal.