$XAU BOUNCES FROM $3,943 AS QUARTERLY DROP HITS 13% 🔥
Gold rebounded sharply from $3,943.66 after bears failed to sustain a breakdown below $3,960 last week. The 13% quarterly decline is the steepest since Q2 2013, drawing attention to the $4,000 level as a key support zone.
Analysts note the downside risk remains until $4,115 is reclaimed, with the next target near $3,680 if selling continues. However, historical seasonal patterns suggest late June to early September is typically a strong window for gold, providing a potential tailwind.
Is $4,000 the floor or just a pause before further downside?
Not financial advice. Always manage your risk.
#XAU #Gold #Support #Bounce #Commodities
🔥
Gold rebounded sharply from $3,943.66 after bears failed to sustain a breakdown below $3,960 last week. The 13% quarterly decline is the steepest since Q2 2013, drawing attention to the $4,000 level as a key support zone.
Analysts note the downside risk remains until $4,115 is reclaimed, with the next target near $3,680 if selling continues. However, historical seasonal patterns suggest late June to early September is typically a strong window for gold, providing a potential tailwind.
Is $4,000 the floor or just a pause before further downside?
Not financial advice. Always manage your risk.
#XAU #Gold #Support #Bounce #Commodities
🔥