I just reviewed the gold charts and the situation is quite tense. The price plummeted below $4,350 in the last few hours, losing more than one trillion dollars in a short period. The strange thing is that this happens because U.S. bond yields rose to 4.40%, making interest-bearing assets more attractive than the metal. Usually, during geopolitical crises, gold rises, but this time the opposite is happening.

The main reason gold is falling today has to do with liquidity. When oil prices went up earlier, many traders needed cash to maintain positions, so they sold gold quickly. Additionally, stop-loss orders triggered and accelerated the decline. Interestingly, even when oil prices dropped and futures turned positive, gold continued to fall. That suggests something bigger is happening, probably the liquidation of a major player.

Looking at the levels, the key support is at $4,304. If gold manages to stay above that level, there could be a rebound. But if it falls, the next targets would be between $4,270 and $4,200. Gold has already lost more than 14% this month, so under pressure, it continues to decline. Analysts say that long-term prospects still point to $6,000+, but in the short term, everything depends on how yields and liquidity move in the coming days.