Gold Falls 2.65% Below $4,150 as Selling Pressure Intensifies

The sharp decline in gold prices and the 4.9% loss in GLD suggest that selling pressure may persist in the short term. Although the RSI falling to 14 indicates oversold territory, the MACD remaining below its signal line and in negative territory confirms weak momentum. The price closing well below the 20- and 50-day moving averages deteriorates the technical outlook. Even if a recovery attempt is seen in the short term, the downtrend is expected to remain in effect for some time.

GOOGL shares closed down 3.42% at $356.75, trading below both its 20-day (362.97) and 50-day (365.77) moving averages. The RSI at 37.6 is approaching oversold territory but has yet to signal a recovery. The MACD line remains below the signal line and in negative territory, confirming weak short-term momentum. The sharp decline may negatively impact overall risk appetite, suggesting continued selling pressure on GOOGL. However, the RSI nearing oversold levels and the possibility of the price forming a short-term bottom after the recent drop limit the downside expectation.

The sharp drop in spot gold is generating a short-term negative signal for GOLD stock. Although the stock rose 4% in the last session, this decline in gold prices could weaken profitability expectations for mining companies. The RSI remains neutral at 53, while the MACD is approaching a crossover below the signal line, indicating a loss of momentum. Despite trading above the SMA20 and SMA50, which supports the medium-term trend, the short-term correction risk prevails. Investors should closely monitor the movement in spot gold and the $41 support level.