29/05/2026
π‘ FastBull Analyst Views | XAUUSD
Gold Drops Below 4,400! Will the Meltdown Continue?
Fundamentals
The continued fall in gold prices is mainly due to fading hopes of a swift peace agreement between the U.S. and Iran, especially after recent U.S. military strikes. This escalation, combined with fresh sanctions, has driven traders toward the U.S. dollar as a primary safe haven, heavily pressuring gold. Additionally, hawkish market bets estimate a nearly 50% chance of a Fed rate hike by year-end, further dampening the appeal of non-yielding bullion ahead of key core PCE inflation data.
Technical Analysis
On the 4-hour chart, Bollinger Bands are widening downwards and moving averages are diverging lower, indicating the downtrend remains active with an RSI of 28 signaling strong bearish sentiment. However, on the daily chart, the price has approached the EMA200 and MA200 zone, where it could find support and potentially trigger a dip-buying rebound back toward 4,500 and 4,600.
Trade Setup π―
π’ BUY XAUUSD (Buy on Dips)
Entry: 4370
Target: 4800
Stop: 4000
π Support: 4350 / 4100 / 4000
π Resistance: 4800 / 5300 / 5600
π For the full detailed analysis:
https://www.fastbull.com/analyst-article/gold-drops-below-4400-will-the-meltdown-continue-4379629_0