Gold Analysis – 08.Jun.2026
Gold Analysis: By analyzing the #Gold chart on the 4H timeframe, we can see that price once again followed the scenario discussed in our previous update. After reacting perfectly from the supply zone we highlighted, Gold entered another aggressive sell-off.
As expected, sellers regained control from the upper supply area and price collapsed sharply, reaching a fresh low around $4269. The renewed conflict between Iran and Israel acted as a catalyst behind this move. However, after news regarding another ceasefire emerged, Gold experienced a strong rebound and managed to recover toward the $4346 region.
Currently, Gold is trading around the $4330 area. Despite this recovery, in my view the broader structure remains bearish and the recent bounce looks more like a temporary correction rather than the beginning of a new bullish trend.
From a structural perspective, the nearest supply zones are now located around $4350 – $4380, followed by a stronger resistance cluster between $4420 – $4450. On the downside, the closest demand zones are sitting around $4250 – $4275, with deeper structural support located between $4190 – $4220.
In my view, as long as Gold remains below the higher supply zones, the probability of another heavy bearish leg remains elevated. The next medium-term downside targets to monitor are $4200, followed by $4100, and potentially the major psychological level around $3999 if bearish momentum accelerates further.
For now, Gold remains extremely headline-driven and highly sensitive to geopolitical developments. Any new escalation or de-escalation between Iran and Israel could trigger violent swings in both directions. Nevertheless, the broader bias remains bearish until proven otherwise.
This analysis will be updated as the market evolves.
(This Post on TradingView)
Author : Arman Shaban
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