Gold Nears $4,394 Turning Point as 200-Day Average Tests 2026 Downtrend

1 articles · Updated · Reuters · May 29

Gold has slid to about $4,394, bringing it to its 200-day moving average and a technical zone that could determine whether this year’s decline deepens or stabilizes.
January 30’s blow-off top ended an early-2026 surge, and subsequent recovery attempts have produced lower highs — a classic bearish pattern in technical analysis.
The support area is reinforced by October’s peak at $4,381.21 and the lower Bollinger band near $4,417, making this cluster a closely watched battleground for traders.
A decisive break below that zone could expose March’s low of $4,097.99 or worse, while a rebound above this month’s $4,773.14 high would weaken the bearish case and support recovery.

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