$Gold.com(GOLD.US)

🏆[Weekly] Gold Update: Bears Take Control – Worst Weekly Drop Since June!

It been a tough week. Gold prices, XAU/USD, are down ~3.2–3.4% and it is officially the sharpest weekly fall since early June.

What’s driving the selloff?🤔

Energy-led inflation fears are back! Tensions flaring between the US and Iran sent oil prices spiking, stoking worries that inflation will stay stuck high.

Fed officials have stepped up with hawkish comments. Since gold earns no interest, rising rate expectations knock its appeal hard.

🔍 Techincal Snapshots

✅ Daily: Late Friday bounce to $4,017.31 (+1.02%) bit it is still well below the 20-day mid-band at $4,073.70.

Good news: it held support at the lower Bollinger Band around $3,948.74. Daily RSI at 41.39 = bearish momentum but not yet oversold.

✅ 4-Hour: Price is stuck right at the mid-band ($4,022.09) . It is acting as immediate resistance now. Support sits at $3,960.53; 4H RSI at 42.72 = neutral for now.

💡 The Verdict

$3,950 is THE critical level to watch. If oil-driven inflation keeps lifting the US dollar, we could see these lows retested fast.

Guard your own capital, track energy prices closely and stay flexible!

Not financial advice. Do your own DD 😁.