Next week's gold market analysis

Federal Reserve officials continue to release hawkish signals, pushing market expectations for rate cuts further back. The U.S. dollar and U.S. bond yields remain at high levels, putting sustained pressure on gold prices in the medium to long term.
Coupled with the gradual fading of geopolitical risk aversion, long positions continue to exit, and gold prices are under overall pressure. The bearish trend is unlikely to reverse quickly in the short term.

Technical Analysis

The daily downward channel remains intact, the Bollinger Bands continue to open downward, highs are moving lower, and bears dominate the chart. Each rebound is merely a correction in the downtrend and is unlikely to sustain an upward move.

The hourly and 15-minute short-term rebound momentum is weak, with the 4070–4100 range serving as a key resistance zone. Unless this level is solidly breached, the downtrend will continue. The primary support below is at 3960; once broken, gold prices will continue to test new lows.
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