GOLD - Exhaustion of Supply

GC1! has returned to a major support zone and is showing signs that selling pressure is fading. Over the past several weeks, each push lower has generated less downside progress, suggesting sellers are becoming less effective despite continued attempts to drive price lower.

The most recent price action produced a high-effort, no-result bar, immediately followed by a No Supply bar. This is a classic indication that supply is being absorbed and that aggressive selling is no longer achieving meaningful results.

Price is now sitting at a critical area where risk appears defined. If support continues to hold, I expect buyers to regain control and push the market back toward the recent highs.