$PAXG
🚨 Gold lost part of its strength... Has the uptrend wave ended?
Gold made a very strong move during the recent period.
After breaking above $4,200, buyers stepped in strongly and the price reached, during the week, a high above $4,400.
But at the end of the week, something important appeared:
The price is still high... but the strength of the upward move began to slow down.
And this became clear after US inflation data.
The market reduced expectations for rate hikes, which should have provided a better environment for gold—but the metal failed to hold on to its recent highs, and profit-taking started to appear.
📊 Does that mean the uptrend has ended?
So far: no.
Because an important part of the fundamental drivers is still present:
⬅️ Continued central bank buying
⬅️ Return of inflows into gold funds
⬅️ Declining odds of further monetary tightening
⬅️ And ongoing geopolitical uncertainty
However, the issue in the short term is that gold now needs a new catalyst to bring back momentum for buyers.
⚠️ And that’s what makes the start of the new week very important.
Technically, we’ll first watch the $4,350–$4,320 area.
Holding it and seeing the price return above $4,400 will be a sign that buyers are still able to try again toward the highs.
As for losing it, that could allow the correction to take more space, and then $4,300 would come under scrutiny.
🚨 Gold lost part of its strength... Has the uptrend wave ended?
Gold made a very strong move during the recent period.
After breaking above $4,200, buyers stepped in strongly and the price reached, during the week, a high above $4,400.
But at the end of the week, something important appeared:
The price is still high... but the strength of the upward move began to slow down.
And this became clear after US inflation data.
The market reduced expectations for rate hikes, which should have provided a better environment for gold—but the metal failed to hold on to its recent highs, and profit-taking started to appear.
📊 Does that mean the uptrend has ended?
So far: no.
Because an important part of the fundamental drivers is still present:
⬅️ Continued central bank buying
⬅️ Return of inflows into gold funds
⬅️ Declining odds of further monetary tightening
⬅️ And ongoing geopolitical uncertainty
However, the issue in the short term is that gold now needs a new catalyst to bring back momentum for buyers.
⚠️ And that’s what makes the start of the new week very important.
Technically, we’ll first watch the $4,350–$4,320 area.
Holding it and seeing the price return above $4,400 will be a sign that buyers are still able to try again toward the highs.
As for losing it, that could allow the correction to take more space, and then $4,300 would come under scrutiny.
