Spot gold tests critical support at the 38.2% retracement of its 2022-2024 rally, risking a break to November 2025 lows.
Gold prices fell to a session low of $4081.69, testing the 38.2% Fibonacci retracement at $4079.35 and the March 19 swing low of $4098.74. A break below these levels would mark the lowest price since November 2025, signaling potential further downside.
The 38.2% retracement has acted as a pivotal support zone, drawing attention from both buyers and sellers. The last major test of this level occurred in late 2023, when prices rebounded sharply after a brief dip below $4080.
Traders are closely monitoring this zone for a decisive move, as a sustained break could accelerate selling pressure.