GOLD – More Downside Likely

We invite you to read Bruno’s B.E.S.T. View April issue (written April 4th).

After displaying a parabolic rise to 5608 until January 2026, gold has entered into a volatile correction phase. Indeed, gold’s weekly chart shows a sharp rebound over the last two weeks after spiking down to 4098. It closed above the pivotal level of 4400, which is the Fibonacci 38% retracement of the rise from 2500 to 5608. This is also near the former peak of 4381 in October 2025. However, this rebound remains below the former broken rising trend support near 4850, and the momentum oscillator on the lower panel suggests more decline in the coming weeks with a likely retest of the last spike low at 4098, and a possible downside extension toward 3684 (Fibo target) or 3670 (Fibo 62% of 2500-5608).
Given the speculation leading […] continue reading