Gold opened higher in the Asian session today before plunging rapidly, breaking below key supports at 4500 and 4480. The downtrend extended into the European session in a one-way decline with no meaningful rebound.
The metal weakened sharply and broke key support levels, turning bearish in the short term as the momentum from yesterday’s V-shaped reversal fully faded. The move is mainly driven by strengthening hawkish Fed expectations, a stronger US dollar and higher Treasury yields, as well as capital outflows.
Trading Strategy:
Focus on short selling:
Sell 4460–4480
SL 4500
TP 4430–4410–4400
Follow-up short entries are possible after breaking below 4410 USD with volume confirmation.
Long positions are cautious:
Only attempt light long positions if prices stabilize around 4400–4410.
Buy 4400–4410
SL 4380
TP 4440–4450–4460
The metal weakened sharply and broke key support levels, turning bearish in the short term as the momentum from yesterday’s V-shaped reversal fully faded. The move is mainly driven by strengthening hawkish Fed expectations, a stronger US dollar and higher Treasury yields, as well as capital outflows.
Trading Strategy:
Focus on short selling:
Sell 4460–4480
SL 4500
TP 4430–4410–4400
Follow-up short entries are possible after breaking below 4410 USD with volume confirmation.
Long positions are cautious:
Only attempt light long positions if prices stabilize around 4400–4410.
Buy 4400–4410
SL 4380
TP 4440–4450–4460
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