Gold – bears regain control after short-lived correction and look for renewed attack at key supports

From blog.windsorbrokers.com

Gold remains in red for the third straight day, on track for the third consecutive weekly loss, under renewed pressure from Fed’s hawkish steer. Recovery leg from $4000 support zone (metal hit new 2026 low at $4023 on June 11), repeatedly failed to register close above important Fibo resistance at $4354 (38.2% of $4889/$4023 descend) that resulted in formation of bull-trap. Post-Fed acceleration lower confirmed an end of corrective phase and shifted near-term focus lower (fresh weakness has so far retraced over 61.8% of $4023/$4382 recovery leg), as the price is about to register second weekly close below the ... (full story)