21:04 UTC
Downtrend, stabilising at lows · RSI 39 · price 4,058.16
Lower highs / lower lows since March peak.
Multi-month downtrend persists: gold has shed roughly $1,300 from the March peak near 5419 and trades below a falling EM(50), printing a 7-mth low at 3960 last week under the hawkish-Fed, strong-dollar regime. Price stabilised back above 4000 after in-line PCE, with the last four sessions chopping between the 3960 support and the 4100 resistance. The recovery is shallow against the broader weekly decline rather than a confirmed base.
Support: 3,960.00, 3,900.00, 3,820.00
Resistance: 4,100.00
What it said to watch
- Sustained break below 3960 opens the path to 3900 then 3820
- A daily close back above 4100 resistance would ease the downside pressure
- ADP, Warsh speech and ISM on Wed Jul 1 could materially shift this read