21:04 UTC
Downtrend, accelerating · RSI 33 · price 4,327.91
Lower highs and lower lows, fresh range break lower.
Gold has been in a stair-step downtrend since the late-February peak near 5419, trading below a falling EMA(50) for the past two months and grinding through a 4424-4595 band through April-May. Friday's blowout 172K NFP revived Fed-hike pricing and broke the safe-haven bid; the latest session sliced through the 4424-4425 weekly lows and closed at 4327.91, the lowest close in the window. RSI sits in the low 30s, reflecting the impulsive leg lower rather than a settled bottom.
Resistance: 4,424.50, 4,500.00, 4,595.27
What it said to watch
- US CPI Tue 12:30 UTC is the dominant catalyst — a hot print risks a retest of the 4311 swing low and toward the 200-day SMA
- A daily close back above 4424 would repair the range break; 4500 remains the pivot bulls must reclaim
- Failure to hold 4311 confirms continuation of the lower-low sequence