Gold’s Bearish Outlook for Today

Gold today is clearly dominated by a bearish weak pattern. The larger trend downward remains unchanged. The market stays under continuous pressure, with feeble rebounds and no signs of stabilization.
Fundamental bearish factors keep intensifying: the Federal Reserve keeps high interest rates unchanged; rate-cut expectations are delayed until the third quarter; actual interest rates rise to 2.6%, and the appeal of non-interest-bearing gold keeps declining. Meanwhile, the US Dollar Index breaks above the 105 level. A strong US dollar continues to suppress gold prices, forming a clear negative-correlation bearish outlook.
Funds and technicals are both leaning bearish in tandem: COMEX gold’s net long positions hit a new low for 2025. Institutions continue to reduce positions and exit, and bearish strength dominates. The daily moving averages are arranged in a bearish order. Candlesticks keep trading below the moving averages. The MACD bearish histogram green bars expand. Rebounds are only weak corrections, not reversal signals.
The short-term setup is clear. Each time there is a modest rebound, it is an opportunity to short. Resistance overhead is heavy, and support below continues to face testing. Once key support is broken, bears will accelerate their downside further. In terms of execution, follow the trend resolutely. Don’t blindly bottom-fish or get lucky hoping for a rebound. Control the pace and focus on following the bearish trend.

Trading suggestion: Sell short in the 4570-4590 range
Target: 4515-4490
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