Selling Wave in Gold Intensifies: Weekly Gains Completely Erased

The sharp selling wave in gold prices, triggered by comments from US Federal Reserve (Fed) Chair Kevin Warsh on interest rates, has carried into the new week. After losing more than 3% on Friday, spot gold deepened its losses on the first trading day of the week. The selling pressure in the markets has completely wiped out gold's short-term gains. As investors repriced their expectations for Fed monetary policy, the decline in gold prices erased all weekly gains, drawing attention. Analysts note that the Fed Chair's hawkish signals have reduced demand for non-yielding assets like gold. A rising interest rate environment increases alternative yield opportunities, weakening interest in gold. This sharp drop in spot gold is affecting investor risk appetite, with market participants focused on the Fed's next steps. Economic data releases and Fed officials' forward guidance in the coming days could be decisive for the direction of gold prices. This is not investment advice.

📊 GLD — Piyasa Yorumu

▼ down · 65%

The headline indicates strong selling pressure beneath the surface, completely erasing weekly gains. While an RSI of 26.77 in oversold territory suggests a possible short-term bounce, the MACD being negative and below its signal line confirms weak momentum. With the price well below the SMA20 and SMA50, the downtrend persists. Therefore, downward movement is likely to continue in the short term, though the pace of decline may be limited due to oversold conditions.

RSI 14

26.8

MACD

-3.21

24h Δ

-0.87%

📊 GOLD — Piyasa Yorumu

▼ down · 65%

The headline indicates strong selling pressure beneath the surface, with weekly gains completely wiped out. Technical indicators support this outlook, as the price is trading below both the 20-day and 50-day moving averages. The RSI sits at 47 in neutral territory, but the MACD is negative and below its signal line, pointing to weak short-term momentum. The 2.18% decline over the last 24 hours suggests selling pressure may persist. However, since the asset is not in oversold territory, the downside could remain limited.

RSI 14

47.4

MACD

-0.10

24h Δ

-2.18%

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