**7.8 Gold Midnight Report: Gold Plunges by 100 Points! Have You Caught the Short-Seller Feast?**

During the day, gold slid steadily from the 4144 high, hitting a low of 4021. The single-day drop exceeded $120—an almost epic-level bearish market. After forming a top with choppy trading in the early session, it began to accelerate lower in the afternoon. Before the US session, it even saw a cliff-like plunge, leaving virtually no breathing room for the bulls.

**From the news perspective:** Trump’s tariff policy sparked an abrupt shift in market risk-avoidance sentiment. The US Dollar Index surged strongly, and gold was hit by concentrated selling. Meanwhile, the market repeatedly wrestled with expectations for a Fed rate cut, and on top of that, profit-taking drove the market down in a stampede—multiple negative factors converged and triggered the sell-off.

**From the technical perspective:** On the 15-minute timeframe, after the price broke below the key support of 4100, it accelerated downward, confirming the short trend is clear. The market has currently probed as low as around 4021 and then showed a modest rebound. For short-term support, watch the 4020-4000 range. The resistance level is seen at 4060-4080. MACD has expanded bear-side volume, and KDJ is in the oversold area. It’s expected that there will be a technical correction during the Asian session, but the overall bearish outlook remains unchanged.

**Trading reference:** Sell in batches on rebounds in the 4040-4060 range, with targets at 4010 and 3980. $XAUT