Gold Price Alert: XAU/USD Support Finally Breaks
Gold has broken below support with a decline of more than 7% off the monthly high now approaching a key technical pivot at multi-month lows.
Share this:
Gold Technical Outlook: XAU/USD Multi-Timeframe Analysis
Michael Boutros, FOREX.com Senior Market Analyst, breaks down the growing technical risks facing gold prices as momentum deteriorates and key long-term support levels begin to fail. Gold is now approaching a critical pivot zone after falling nearly 9% from the April high, with traders closely watching U.S. inflation data, Federal Reserve expectations and geopolitical headlines from Iran for the next major catalyst.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts
- US Dollar Short-term Outlook: USD Rally Vulnerable at Major Resistance
- Canadian Dollar Short-term Outlook: USD/CAD Breakout Faces First Major Test
- Swiss Franc Short-term Outlook: USD/CHF Breakout Faces First Major Hurdle
- Euro Short-term Outlook: EUR/USD Five-day Selloff Breaks May Lows—1.16 Now in Focus
Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Gold Price Forecast: XAU/USD 17% Plunge Threatens Multi-Year Uptrend 10 31 2026
Gold bears are closing in on critical multi-year trend support, with a potential exhaustion low in focus as November trading gets underway.
Bitcoin Price Forecast: BTC/USD 12.5% Plunge Nears Critical Support 10 30 2026
Bitcoin bears are closing in on critical trend support as a reported Binance security breach rattles sentiment, raising the stakes for November.
Bitcoin, Ether Forecast: $6B Binance Hack Rattles BTC/USD and ETH/USD
Binance is working to contain a security breach it estimates affected about $6.3 billion in crypto assets, though the issue appears isolated for now - what does it mean for Bitcoin and Ether?
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.