Technical Analysis: XAUUSD

XAUUSD plummeted by more than 3%

Last Friday, XAUUSD plummeted by more than 3%. At one point, it came close to the US$4310 mark and hit the lowest level since 24^th March.

The USDX broke above the 100 mark

Last Friday, as US non-farm payrolls (May) was strong, the USDX climbed and broke above the 100 mark. It ended up 0.63% at 100.07.

Gold ETF holdings decreased

As of 5^th June 2026, gold ETF holdings reached 1019.921 tons, a decrease of 5.223 tons from the previous day, according to the world’s largest Gold ETFF——SPDR Gold Trust.

The bearish market trend prevailed

the Chart of the Day

On the chart of the day, XAUUSD was prone to fluctuation and fell. The bearish market trend prevailed. In terms of technical indicators, KDJ went downwards after death cross occurred, showing that XAUUSD will fall further. Investors should focus on whether XAUUSD will break through the support at 4250. It will decline with potential support at 4100 if it breaks below 4250.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and fell. The bearish market trend prevailed. In terms of technical indicators, MACD went downwards after death cross occurred, showing that the market trend is bearish. Investors should focus on whether XAUUSD will break through the resistance at 4366. It will decline if it rebounds but is capped at 4366.

Key resistance: 4366,4420

Key support: 4250,4100

Generally speaking, the bearish market trend prevailed in the short term. Investors could sell as XAUUSD rebounds during the day.