$GOLD Technical Analysis Summary (as of July 02, 2026)
Based on the weekly chart, $GOLD is trading at $4071.31, up $35.36 (+0.88%) with a bid/ask spread of $4071.25/$4072.27.
$GOLD remains in a powerful long-term uptrend that began in 2024, but has entered a sharp corrective phase since peaking near $5500 in 2026.
Price has broken below key moving averages with a series of strong red weekly candles, confirming short-term bearish momentum. The recent bounce is modest and the higher-timeframe structure is under pressure.
Support levels are at $4381.82, $4288.91, $4071.31, $3800.00, $3500.00, and $2796.13 with resistance near $4381.82 and $4858.55.
The RSI (14) at 37.07 suggests oversold conditions with potential for a relief bounce.
Monitor for a breakout above $4381.82 for continued upside or a drop below $4071.31 for downside pressure.
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Not investment advice. The author may have financial interests in the mentioned instruments.
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Sat Aug 08 2026 06:25:36 GMT+0000 (Coordinated Universal Time)
