After breaking below $4,415, it indicates that the consolidation phase is not yet over. However, in the medium term, as long as the price holds above $4,203, it remains a pause before a continued uptrend.

The support levels have shifted to $4,311 and $4,288–$4,268. As for rebounds, if the price fails to pass $4,446, caution is still required as it may be a bounce before continuing to consolidate downward.

Investment strategy: For buying entries, wait for the price to establish a base first; however, risk-tolerant traders may consider opening long positions if the price stays above $4,311 (Stop loss at $4,223).

Take profit on long positions if prices fail to pass $4,375–$4,446; if passed above $4,446, delay selling until the next resistance level.

Key Factors

Yesterday, gold closed sharply down $119.40, heavily pressured by U.S. Treasury yields surging to their highest levels since January 2025. Escalating Middle East tensions have stoked renewed inflation fears, sparking a global sell-off in sovereign bonds.

The U.S. military launched a fresh round of strikes targeting Islamic Revolutionary Guard Corps (IRGC) positions, with President Trump warning Iran of further retaliatory actions if provoked. According to Axios, the U.S. military struck two Iranian government oil tankers as part of the offensive.

Adding to gold's headwinds, Federal Reserve Governor Michael Barr adopted a hawkish tone, stating that the Fed may need to raise interest rates and stands ready to act "decisively" if inflation fails to show clear signs of slowing down.