Spot gold falls $30 as rising U.S. Treasury yields and a firmer dollar pressure prices below critical technical levels.
Gold prices declined $30 in today’s session, pressured by rising U.S. Treasury yields and a stronger U.S. dollar. The metal rebounded from a low of $4,136.70 but remains below key moving averages, signaling continued bearish momentum.
Technical indicators show gold trading below its 200-hour moving average at $4,231.55 and the 100-hour average at $4,254.65, both trending downward. A break above these levels could target resistance near $4,350-$4,375, while support lies at $4,120, with a breach risking a drop toward $4,023.95.
On the daily chart, gold has stayed below its 200-day moving average at $4,443.34 since June 5, marking its first break since October 2023 and reinforcing a negative long-term outlook.