Hello everyone,
Looking at the H4 chart, gold is showing a clear structural shift after decisively breaking below the key psychological level of 5,000 USD and extending its decline toward the 4,650–4,700 zone. This move is accompanied by a sharp increase in volume, suggesting that selling pressure is no longer just a technical pullback but has transitioned into a more aggressive distribution phase. The moving averages have also crossed to the downside and are widening, reinforcing the view that short-term momentum has turned bearish, while recent rebounds appear to be simple retests of nearby resistance.
From a macro perspective, the broader backdrop is aligning against gold. The US dollar continues to strengthen, while Treasury yields are pushing higher following more hawkish remarks from the Federal Reserve, particularly from Jerome Powell. This reinforces expectations that interest rates may stay elevated for longer, which directly reduces the appeal of non-yielding assets like gold.
What stands out this time is that even with ongoing geopolitical tensions in the Middle East and rising oil prices—factors that would عادة support gold—the market is not responding in the usual way. Instead, it is prioritizing the interest rate narrative and dollar strength, which are currently dominating price action.
Another key point is the scale of the recent decline. Gold has dropped more than 900 USD from its recent peak, indicating a broad-based profit-taking phase after an extended rally. When a major uptrend breaks down in this manner, the market typically requires time to rebalance rather than immediately reversing higher.
At this stage, the question is no longer whether gold is correcting, but whether the market is transitioning into a deeper, more sustained downtrend—or simply undergoing a necessary reset before the next major move.
Looking at the H4 chart, gold is showing a clear structural shift after decisively breaking below the key psychological level of 5,000 USD and extending its decline toward the 4,650–4,700 zone. This move is accompanied by a sharp increase in volume, suggesting that selling pressure is no longer just a technical pullback but has transitioned into a more aggressive distribution phase. The moving averages have also crossed to the downside and are widening, reinforcing the view that short-term momentum has turned bearish, while recent rebounds appear to be simple retests of nearby resistance.
From a macro perspective, the broader backdrop is aligning against gold. The US dollar continues to strengthen, while Treasury yields are pushing higher following more hawkish remarks from the Federal Reserve, particularly from Jerome Powell. This reinforces expectations that interest rates may stay elevated for longer, which directly reduces the appeal of non-yielding assets like gold.
What stands out this time is that even with ongoing geopolitical tensions in the Middle East and rising oil prices—factors that would عادة support gold—the market is not responding in the usual way. Instead, it is prioritizing the interest rate narrative and dollar strength, which are currently dominating price action.
Another key point is the scale of the recent decline. Gold has dropped more than 900 USD from its recent peak, indicating a broad-based profit-taking phase after an extended rally. When a major uptrend breaks down in this manner, the market typically requires time to rebalance rather than immediately reversing higher.
At this stage, the question is no longer whether gold is correcting, but whether the market is transitioning into a deeper, more sustained downtrend—or simply undergoing a necessary reset before the next major move.
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Join our group and unlock real-time Forex, gold, and crypto signals — sharp insights, fast alerts, and opportunities you don’t want to miss.
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.