Hello everyone, gold is experiencing one of its sharpest declines since the beginning of the month, with price falling to around $4,188 per ounce and decisively breaking below the $4,300 support zone. On the H4 timeframe, the bearish structure remains clear as price continues to print lower highs and lower lows while trading well below both the EMA34 and EMA89.
What catches my attention is not only the size of the decline but also the manner in which it occurred. After spending several sessions consolidating between $4,300 and $4,340, gold suddenly broke support with large bearish candles accompanied by rising volume. This suggests that the selling pressure is no longer driven solely by profit-taking, but also by fresh selling interest entering the market.
From a fundamental perspective, market sentiment continues to be influenced by the stronger-than-expected US employment report released last week. This has reinforced expectations that the Federal Reserve may keep interest rates elevated for longer, while the US Dollar and Treasury yields remain supported. Attention is now shifting toward the upcoming US CPI report, which could play a major role in shaping monetary policy expectations.
Looking at the current chart, the $4,150–4,180 area is the nearest support zone.
If buyers step in around this region, gold could form a technical rebound toward $4,250, with a further recovery toward $4,300 to retest selling pressure.
However, if $4,150 fails to hold, the decline may extend toward $4,100, and even the psychological $4,000 level could come into focus.
At this stage, the primary trend remains bearish. Rather than trying to predict the exact bottom, the key question is whether the $4,150–4,180 area can absorb the intense selling pressure currently dominating the market. This zone may determine whether gold can stage a meaningful recovery or enter a deeper phase of decline.
What catches my attention is not only the size of the decline but also the manner in which it occurred. After spending several sessions consolidating between $4,300 and $4,340, gold suddenly broke support with large bearish candles accompanied by rising volume. This suggests that the selling pressure is no longer driven solely by profit-taking, but also by fresh selling interest entering the market.
From a fundamental perspective, market sentiment continues to be influenced by the stronger-than-expected US employment report released last week. This has reinforced expectations that the Federal Reserve may keep interest rates elevated for longer, while the US Dollar and Treasury yields remain supported. Attention is now shifting toward the upcoming US CPI report, which could play a major role in shaping monetary policy expectations.
Looking at the current chart, the $4,150–4,180 area is the nearest support zone.
If buyers step in around this region, gold could form a technical rebound toward $4,250, with a further recovery toward $4,300 to retest selling pressure.
However, if $4,150 fails to hold, the decline may extend toward $4,100, and even the psychological $4,000 level could come into focus.
At this stage, the primary trend remains bearish. Rather than trying to predict the exact bottom, the key question is whether the $4,150–4,180 area can absorb the intense selling pressure currently dominating the market. This zone may determine whether gold can stage a meaningful recovery or enter a deeper phase of decline.
Trade closed: target reached
Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
Join now: t.me/+dfxDTk_DRtg4Mzll
Join now: t.me/+dfxDTk_DRtg4Mzll
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
Join now: t.me/+dfxDTk_DRtg4Mzll
Join now: t.me/+dfxDTk_DRtg4Mzll
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.