🏆 Weekly Gold (XAUUSD):💥 Gold Crashes 2.4% – Is the Bull Market Over?

🔷 Market Overview

Gold suffered one of its sharpest declines in recent months, falling -111.6 points (-2.40%) to close near $4,540.65. The move below $4,600 weakens short-term bullish momentum as traders price in higher for longer US interest rates.

🔷 Technical Snapshots

🟢 Bollinger Bands (Daily)

Price collapsed from the middle band ($4,662.60) and is now testing the lower band at $4,508.61. A break below could accelerate selling toward $4,400.

🟢 RSI (Relative Strength Index)

Daily RSI 14 dropped to 39.42 – firmly in bearish territory but not yet oversold (30). There may be more room to fall.

🟢 Support & Resistance

Immediate support: 4,400. Resistance: 4,816.58 (upper BB). Gold must reclaim $4,660 to stabilize.

🔷 Fundamental Snapshot:

The selloff wasn’t random. Traders blamed four interlinked drivers:

1️⃣ Rising US Treasury yields – making non-yielding gold less attractive.

2️⃣ Stronger US dollar – pressuring dollar-priced commodities.

3️⃣ Higher-for-longer rate expectations – markets now pricing fewer 2026 Fed cuts.

4️⃣ Inflation fears tied to geopolitics – ironically, even inflation fears are hurting gold because they fuel rate-hike bets.

Next week two key events now dominate the radar, 20 May 2026 US time:

🟢Initial Jobless Claims

A vital weekly snapshot of the labor market’s health. A low reading will reinforce Fed hawkishness, pressuring gold toward $4,400. Previous reported figure was around 211K.

🟢 FOMC Meeting Minutes

Markets will scrutinise the April 29 meeting for clues on future rate decisions.

Key contradiction: Gold typically hedges inflation, but today the market fears the Fed’s response to inflation more than inflation itself.

🔷 The Verdict

Bearish near-term. A close below $4,508 opens $4,400. Wait for RSI to hit 30 or a reclaim of $4,660 before considering longs. Unless you are a day trader😁

Not financial advice. Do your own DD.