Gold is beginning to seem heavy here.

We have:

- Strong push leads to new highs (about 5600).
Sharp rejection led to an aggressive sell-off, resulting in a lower high (~5400 → ~5170).

- The price is currently breaking down and nearing its prior support level (~4500).

This structure is evident.

← Top distribution leads to lower highs and negative momentum.

If this level fails to hold, the downward trend will continue.

The gold market transitioned from a trend to a range and then a breakdown.
Until it regains higher levels, downside continuation > bounce.

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