Published June 24, 2026

Analysis: The major trend is up, the intermediate trend is down, and the near-term trend is down. Gold is down about 25% from the March high. The key support level is $4000. After that, the next support level is around $3400. The fundamental reason for the downtrend in the uptrend in the U.S. Dollar (USD) which is experiencing a period of renewed strength, driven largely by shifting expectations regarding Federal Reserve monetary policy and resilient economic indicators. In summary, this is not the time to be long gold or gold mining stocks.

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Technical Analysis is about trading with the trend

Note: This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes. The article was written with the help of AI and was reviewed by an editor.

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