Price: XAU/USD ≈ $4,085 – $4,090 (down ~2% on the day) ¹
– Session Range: $4,211 (high) – $4,032 (low)
Technical Landscape
– Trend: The bullish run that peaked near $4,245 has stalled. Price is now testing the $4,000 psychological support, a key pivot for the near term ² .
– Momentum: Oscillators (RSI, MACD) are slipping into neutral‑sell territory, signalling waning upside momentum ² ³ .
– Support Zone: Immediate support sits at $4,000–$4,025; a breach could open the next floors at $3,900 and $3,800 ² ⁴ .
– Resistance Zone: Near‑term resistance clusters at $4,150 (recent swing high) and $4,245 (overnight high) ² .
Key Levels to Watch
– Support: $4,000, $3,900, $3,800
– Resistance: $4,150, $4,245, $4,300
Market Drivers
– Strong USD, higher U.S. Treasury yields, and fading Fed‑rate‑cut expectations are pressuring gold.
– Geopolitical tensions and central‑bank buying remain the underlying bullish backdrop, so any dip could attract fresh buying ² .
Possible Scenarios
1. Bearish Break: If $4,000 cracks, expect a slide toward $3,900–$3,800, especially if Fed cues stay hawkish.
2. Bullish Rebound: A hold above $4,000 and a push past $4,150 could reignite the rally, targeting $4,245–$4,300.
