Gold has been in a multi-month downtrend since the late-February peak near 5419, carving a chain of lower highs and lower lows down to the 4067 recent low. The hawkish Warsh Fed hold drove the latest leg, and price is now consolidating near 4250, below the 4300 pivot after rejection at the 4370 ceiling. Price sits beneath both EMAs with RSI near 36, leaving the structure pressured even as central-bank demand has floored the dips.
Support: 4,219.00, 4,067.00
Resistance: 4,300.00, 4,370.00
What it said to watch
Daily close back above the 4300 pivot would ease the bearish structure
Loss of the 4219 weekly low confirms continuation toward the 4067 recent low
S&P PMIs Jun 23 and Core PCE Jun 25 could materially shift this read
Gold has been in a clear downtrend since the late-February peak near 5419, trading well below a falling EMG(50) and shedding roughly 25% into the early-June low at 4023. The latest leg lower followed the hawkish Warsh Fed hold and lifted yields/DXY, with this week's rally stalling and rejecting at the 4370 ceiling. Price is now consolidating between the 4219 weekly low and the 4300–4370 resistance cap.
Support: 4,219.00, 4,071.00
Resistance: 4,300.00, 4,370.00
What it said to watch
D1 close below 4219 weekly low reopens the path to the 4071 major low
Reclaim of the 4300 pivot and 4370 ceiling would neutralise the bearish tilt
S&P Global PMIs (Jun 23) and Core PCE (Jun 25) are the next macro tests that could materially shift this read
Gold has been in a multi-month downtrend since the late-February peak near 5419, carving a clean chain of lower highs and lower lows with price held firmly below a falling EMA(50). This week the FOMC hawkish reset and stronger USD drove a breakdown through the 4300 pivot, after a rejection at 4382 capped the prior relief bounce. The slide stalled near the 4219 two-day low, with the early-month 4067 swing low marking the next major structural marker.
Support: 4,219.00, 4,067.16
Resistance: 4,300.00, 4,382.39
What it said to watch
Sustained D1 closes below 4300 keep the bearish post-FOMC tone intact; a reclaim eases pressure
A break below 4219 confirms a fresh lower-low and opens the path toward 4067
S&P Global PMIs (Tue) and Core PCE (Thu) are high-impact catalysts that could materially shift this read
15:03 UTC
Downtrend, below key EMAs · RSI 43 · price 4,281.41
Lower highs, lower lows since late Feb peak.
Gold remains in a multi-month downtrend off the late-February 5419 peak, with price below both EMAs and the slope of EMA(50) firmly down. This week's hawkish Warsh-led FOMC and hot US Retail Sales drove the dollar to 8-week highs and broke gold below the 4300 pivot toward the 4219 two-day low. Last week's relief push stalled at the 4344 weekly high, and price has rolled back under 4300, keeping the bearish post-FOMC tone intact.
Support: 4,219.00, 4,067.00
Resistance: 4,300.00, 4,344.00
What it said to watch
Sustained trade below the 4300 pivot keeps the bearish structure; a daily close back above it eases pressure
A break of the 4219 two-day low opens the path toward the 4067 swing low
S&P Global PMIs (Tue) and Core PCE (Thu) are the next high-impact catalysts that could shift this read
Failure at the 4344 weekly high confirms the lower-high sequence