7.24 Gold Investor Morning Report: Bulls Are Completely Crushed! Gold Plunges in a Single Day, Back to Square One—$4,000 Level in Jeopardy

Previously, gold price traded sideways for a long time around the $4,166 high. The gains that bulls gradually accumulated proved utterly useless in the face of this large bearish candle; within a day, it slid back to the prior lows, with most of the rise directly swallowed. $XAU

Oil prices surged sharply, reigniting market concerns about inflation. Expectations for the Fed to cut rates cooled significantly, U.S. Treasury yields continued to climb, and risk-averse funds pulled out one after another. In the end, this one-way downtrend was hammered out. $HYPE

The $4,000 integer psychological and technical support level is currently the most important. If this level is effectively broken, downside room will be fully opened. At this stage, bears have complete control of the market rhythm—never go in impulsively with the idea of “buying the dip after it drops a lot.” $AKE

Place short orders in the 4040–4060 range, targets $4,000 and $3,980
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