Price Stabilization: Following yesterday's historic -9% decline, gold has stabilized in the $5,090–$5,100 range, marking a modest recovery from the $4,956 low. The current price of $5,091.66 represents a -7.60% daily decline but shows signs of near-term consolidation.
Technical Outlook: The price remains well below key moving averages—**MA(25) at $5,137** and MA(99) at $5,313—indicating the medium- and long-term trends are still bearish. However, trading above MA(7) at $5,049 offers a minor short-term support signal. Volume has normalized from yesterday’s panic, suggesting a pause in heavy selling pressure.
Market Sentiment: Physical gold coin demand remains exceptionally strong, with premiums for sovereign coins like the American Eagle and Canadian Maple Leaf holding firm despite the spot price decline. This divergence highlights the resilience of the physical market amid paper gold volatility.
Key Levels to Watch:
- Resistance: $5,138 (MA25), $5,200 (psychological)
- Support: $5,049 (MA7), $4,956 (yesterday’s low)
Outlook: The market appears to be entering a short-term consolidation phase. A break back above $5,138 could signal a relief rally toward $5,200, while failure to hold $5,050 may trigger a retest of the $4,956 low. Physical buyers continue to view the dip as a strategic accumulation opportunity. #XAU #XAUUSD #XAUUSD❤️
