International spot gold prices continue to weaken. After a sharp pullback, they fell below the $4,400 per ounce level for the first time since March 27, as the “do tou” support has broken down.



The selloff on the screen has been swift: the cumulative intraday plunge exceeds $50, with an overall decline of 1.25%. The “do tou” gold-market phase has been temporarily brought to an end, the uptrend has been reversed, concentrated selling pressure has been released, and “do tou” sentiment has spread.

Driven by global macro sentiment and negative market factors, gold’s safe-haven demand has faded. “Do tou” traders have exited the market, and the gold price has repeatedly broken through support levels. In the short term, it has shifted to a technical pullback and correction, and may move further downward to test even lower support levels.
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