Gold (XAU/USD) is sliding through the $4,100s for a fourth straight day, and the latest FXStreet analyses are split on what comes next: two analysts see scope for further losses while one – citing a former Fed insider’s market move – argues the dip is a buying opportunity the central banks themselves are underwriting.
Money Metals Exchange’s Mike Maharrey: Gold as an “asymmetric trade”
The structural bull of the trio. Maharrey reports that former Fed insider Christopher Whalen has sold all his bank stocks and is “piling money into gold,” taking advantage of the softness in Gold and Silver in the first half of the year. The argument is macro, not technical: “The global central banks are continuing to shift away from dollars, shift towards gold, and to a lesser extent silver, simply because they want an independent reserve asset that is not controlled by another country,” Whalen said in the interview Maharrey cites. Maharrey, who has long argued that even a modest de-dollarization spells trouble for the US economy, notes Whalen also expects a slowing economy to force a Fed rate cut as early as Q1 2027 – and a return to QE: “I think the Fed will have to print.” – Read the full analysis
Gold Price Forecast’s Anna Radomska: The weekly gap is the battleground
Radomska’s technical read flags the awkward paradox dragging on the bulls: a weakening US Dollar that is not lifting Gold. Monday’s close below $4,170 confirmed the closure of Friday’s bullish gap, and sellers have pushed price back into the important weekly bullish gap at $4,098-$4,135 – “That’s an intraday test, not a confirmed weekly gap closure,” she notes. The immediate battleground is $4,156, then $4,233 and the repeatedly defended $4,240-$4,250 zone. Her caution cuts both ways: a confirmed weekly close below $4,098 would be “a considerably more consequential bearish development,” but until then the support scenario remains alive – “Gold bulls defended weekly support once. They may have to do it again before they can even think about defeating resistance.” – Read the full analysis
FXStreet’s Sagar Dua: Yields keep the ceiling on
Dua is the most directly bearish on the near term: Gold extended its losing streak to a fourth trading day near $4,115, and “the psychological level at $4,000 is the key support zone.” His driver is macro-technical: 10-year US Treasury Yields near 5.13%, rebounded from a four-week low, held up by oil climbing toward $99 on Middle East supply risks – and by corporate borrowing for hyperscaler AI plans, with a Gartner report flagging “more than $4 trillion in asset value exposed to write-down risk through 2032.” Technically, price holds below the 20-day EMA at $4,178 with the RSI at 41 in mildly negative territory. – Read the full analysis
The takeaway
Near term, two of three analysts see downside risk intact, and both watch the same thresholds: Dua’s $4,000 psychological floor and Radomska’s $4,098-$4,135 weekly gap, where a confirmed weekly close below would shift the technical picture decisively bearish. Maharrey is the outlier, treating the dip as an accumulation window on a multi-year central-bank bet. Watch the weekly close in the $4,098-$4,135 gap: hold it and Maharrey’s asymmetric trade has room to work; lose it, and the two bears control the tape.
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
