21:04 UTC
Downtrend, momentum slowing · RSI 42 · price 4,087.89
Lower highs and lower lows, bouncing off floor.
Multi-month downtrend intact: gold has shed roughly 1,400 dollars from the early-window 5,400 peak, sliding below 4,000 this week for the first time since November as a hawkish-Fed, strong-USD regime and a Q1 GDP beat (2.1% vs 1.6%) pressured bullion. Price is below both EMA(20) and EMA(50), but the 3,959 low was swept and recovered, with the last two sessions stabilizing back above the 4,000 psych pivot. RSI is off its lows near 41, hinting momentum is slowing rather than reversing.
What it said to watch
- Daily close below 3,960 recent floor reasserts the downtrend toward 3,900 lt support
- Reclaim of the 4,100 broken zone on a close would ease the immediate downside pressure
- ADP and ISM Manufacturing Jul 1 are the decisive catalysts for whether gold bases or breaks 3,900