Gold’s two-week slide tests support but long-term trend intact
Gold posted a second consecutive weekly loss, settling at $4,477 on Friday. The week’s low of $4,329 was below the prior support zone before a bounce.
Gold Market
Gold posted a second consecutive weekly loss, settling at $4,477 on Friday. The week’s low of $4,329 was below the prior support zone before a bounce.
Gold rose 5.2% in a week to $4,662, driven by a US Treasury buyback plan and a falling dollar. A new parabolic long trend has begun, but analysts warn the speed may be unsustainable.
Gold's weekly parabolic Short trend ended after 21 weeks, confirmed at 4432. Historical median gains point to a potential target of 4959 over 15 weeks, though risks remain.