01 Jul 2026
📊 Gold Price Forecast: XAU/USD Remains Bearish as Sellers Eye Fresh Multi-Month Lows
Gold (XAU/USD) continues to trade under heavy selling pressure, with the broader technical outlook remaining firmly bearish. Recent price action shows that although buyers attempted a short-term recovery, the rebound lacked follow-through and was quickly rejected, allowing sellers to regain control.
The failure to sustain gains above key resistance levels reinforces the prevailing downtrend and increases the likelihood of further downside in the sessions ahead.
📉 Technical Analysis
Gold recently rebounded from lows near $3,943 before briefly climbing above $4,050. However, the recovery proved temporary as strong selling pressure emerged around the resistance zone, pushing prices back toward recent lows.
The overall market structure continues to favor sellers, with lower highs and lower lows confirming that bearish momentum remains intact.
🟢 Key Support Levels
$3,970 – $3,960 → Immediate support zone
$3,930 – $3,920 → Next bearish target
$3,890 – $3,880 → Strong support area
$3,870 – $3,860 → Major downside target
A sustained break below $3,960 could accelerate selling pressure toward the lower support zones.
🔴 Key Resistance Levels
$4,005 – $4,010 → Initial resistance
$4,040 – $4,050 → Major resistance zone
Above $4,060 → Would weaken the current bearish outlook
Unless buyers reclaim and hold above $4,060, rallies are likely to attract fresh selling interest.
📊 Market Outlook
Gold remains trapped in a well-established downtrend, and current price action suggests that sellers continue to dominate the market.
While short-term rebounds are possible, they are likely to be viewed as corrective moves unless price breaks decisively above the major resistance zone.
🎯 Trading Bias
Short-Term: Bearish 📉
Medium-Term: Bearish 📉
Key Resistance: $4,040–$4,050 🔴
Key Support: $3,960 🟢
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