Gold Technical Outlook: XAU/USD Selloff Tests Critical Support

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Gold Technical Outlook: XAU/USD Multi-Timeframe Analysis

Gold price support is under test after a 12.6% slide from the August high, as rising Treasury yields add fresh pressure on the precious metal. Michael Boutros, StoneX Media Senior Market Analyst, walks through gold's weekly, daily and four-hour charts and the opening ranges that frame its next breakout. Gold's key support sits where the 78.6% Fibonacci retracement of the advance off the yearly low meets a trendline in place since 2024. The weekly opening range above that zone sets the breakout trigger, while climbing Treasury yields and upcoming Federal Reserve minutes shape the macro backdrop.

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--- Written by Michael Boutros, Senior Technical Strategist

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