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FUNDAMENTAL
OVERVIEWYesterday, out of the blue,
we got a quick selloff in gold without any clear catalyst. The curious thing is
that we saw the same price action across many other assets around the same time.
It’s unclear what triggered those moves. Anyway, the focus now is on
the US CPI report today. The market is pricing 58 bps of easing for the Fed
this year, so there’s a high risk of a hawkish repricing in case the data comes
out strong. In such a scenario, we will likely see gold selling off again and
potentially reaching new lows.On the other hand, a soft
report shouldn’t change much in terms of near-term Fed policy, but it will keep
the dovish bets in place which should act as support for gold.GOLD TECHNICAL
ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can
see that gold is trading right in the middle between the all-time highs and the
trendline. From a risk management perspective, the buyers will have a better
risk to reward setup around the trendline to target new all-time highs, while
the sellers will look for a break lower to extend the drop into the 4000 level
next.GOLD TECHNICAL ANALYSIS – 4
HOUR TIMEFRAMEOn the 4 hour chart, we can
see a strong resistance around the 5100 level where the price got rejected from
several times in the past weeks. We got a break below the upward trendline
yesterday which could be a signal of more downside to come. The sellers piled in on the
break to target the 4656 level but if we get a retest of the broken trendline,
the sellers will likely step in again near the resistance with a defined risk
above it to position for a drop into new lows. The buyers, on the other hand,
will want to see the price breaking above the resistance to pile in for a rally
into new all-time highs.GOLD TECHNICAL ANALYSIS – 1
HOUR TIMEFRAMEOn the 1 hour chart, there’s
not much else we can add but if the price were to fall below the recent low at
4878, we can expect the bearish momentum to increase as more sellers will
likely pile into the selloff. Watch out for the US CPI report today as it could
trigger big moves in the market. The red lines define the average daily range for today. UPCOMING CATALYSTSToday we conclude the week with the US CPI report.
This article was written by Giuseppe Dellamotta at investinglive.com.
💡 DMK Insight
Gold’s sudden selloff signals potential market volatility ahead. Yesterday’s unexpected drop in gold prices, mirrored by other assets, raises questions about underlying market dynamics. This kind of synchronized movement often hints at broader risk-off sentiment or reaction to macroeconomic news, even if no immediate catalyst is apparent. Traders should keep an eye on the US economic indicators, particularly any upcoming data releases that could influence market sentiment. If the selloff continues, watch for key support levels in gold around recent lows, as breaking through these could trigger further declines across correlated assets like silver and even equities. On the flip side, if this selloff is short-lived, it might present a buying opportunity for those looking to capitalize on a rebound. Be cautious, though—monitoring volatility indicators and market sentiment will be crucial in determining the next steps. Keep an eye on the daily charts for any reversal patterns that could signal a shift in momentum.
📮 Takeaway
Watch for gold’s support levels; a break could lead to broader market declines, while a rebound might offer buying opportunities.
