Gold: Slide below $4,000 tests key supports – Societe Generale
Societe Generale analysts note that Gold has broken below its 200-day moving average and the March trough, triggering an accelerated decline. Prices are drifting toward last October’s $3,930–3,885 support zone, with a potential rebound hinging on holding this area. The March low near $4,100 is flagged as first resistance, with failure there risking a persistent downtrend.
Break of 200‑DMA fuels downside pressure
"Gold gave up the 200-DMA in June and gradually breached the trough of March resulting in an accelerated decline. It is drifting towards the trough of last October around $3,930/3,885, which could be a potential support."
"The down move appears a bit stretched; however, it will be important to observe whether Gold can hold above this zone and attempt a durable rebound. First hurdle could be located at the March low of $4,100."
"An inability to cross this resistance may lead to persistence in downtrend."
"The slump in Gold below $4,000/oz signals capitulation in crowded debasement FX trade."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
IRS issues ‘roughly 10,000 letters per month’ for crypto audit – Trump allegedly exempt
Pushing Forward Against the "AI Slowdown" Trend? Reports Suggest Kioxia Plans U.S. IPO to Raise at Least $10 Billion
Kioxia is reportedly considering raising $10 billion through a listing in the United States.

3 Altcoins Poised to Pump Soon: LTC, TRX, ADA

AI Computing Power Construction Shifts from "Lack of Electricity" to "Lack of Talent": Modularization Rises, Schneider, Vertiv, Eaton Embrace New Opportunities
Bernstein recently released a research report stating that, amid the rapid expansion of AI computing power, the main constraint affecting the development of data centers is undergoing a shift.

