Gold slipped sharply as sellers held resistance, putting the $3,975‑$3,942 support zone and the 20‑month moving average under pressure.

Spot gold fell to a two‑day low of $5,005 on Thursday, after a decisive one‑day bearish reversal. The daily high of $4,069, now acting as resistance, appears to have failed a test of a rising trendline that previously offered support. Sellers kept control, pushing the price toward the $4,025 support level and the $4,054 pivot.

Technical outlook on the daily and weekly charts

• Daily resistance at $4,069 and support at $4,025; pivot at $4,054
• Weekly high of $4,082 turned into a lower swing high, indicating continued selling pressure

Potential downside scenarios

• If gold breaks below the recent low of $3,975, the June swing low of $3,942 could be breached, opening a path toward the October 2025 low around $3,886
• A failure at $3,886 may expose deeper targets near $3,786 and a Fibonacci range from $3,706 to $4,350

What traders are watching next

• Holding of the $3,975‑$3,942 support zone and the 20‑month moving average around $3,795
• Any sharp advance on Friday could limit the month’s lower‑quarter close; a drop below October's low would confirm a bearish monthly signal

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This article is compiled from international market news for information only. It is not investment advice.