Chart of the day: Gold price tests $4,000 support, is a deeper correction looming? - investingLive

AI desk brief

Gold is testing the key $4,000 support area, with repeated probes raising the risk of a downside break if buyers fail to defend the level. The article flags $3,942-$3,960 as interim support and $3,870, the 100-week moving average, as the next major downside target if a daily close below $4,000 confirms momentum lower.

Upside recovery would first need a move back above the 100-hour and 200-hour moving averages at $4,076 and $4,114, then $4,117 and $4,200. Despite ongoing geopolitical uncertainty and recent Treasury yield pullback, the writer says the balance of risks currently tilts to the downside until gold reclaims $4,000 convincingly.