Today's video recorded by Konrad Urbanowicz

Gold rebounded from a seven-month low this week, breaking back above the closely watched $4,100 level on Thursday after a disappointing June employment report reshaped trader expectations for the Federal Reserve's next move, while a fresh pullback in oil prices took some of the edge off inflation concerns.

Yesterday’s death cross in gold gave traders an ominous warning that more pain may still be in store for the precious metal.

There is no denying that gold is in a downtrend that has shown no signs of slowing, today another strong hint at gold moving lower still just came up on the charts. 

Gold extended its retreat on Monday, a session that captured something many investors are still struggling to accept: in the current regime, a flare-up in the Middle East no longer lifts the metal. It pressures it.

Gold pushed higher on Friday, drawing support from a softer U.S. dollar after this week's inflation data nudged rate-hike expectations a touch lower. Yet for all of the day's firmness, bullion remains on course for its fourth consecutive weekly decline — a useful reminder that one constructive session does not reverse a trend.

After four sessions of bleeding lower, the metals finally found their footing. Front-month gold futures settled up 1% at $4,030.50 an ounce, and silver added 0.5% to close at $58.348, snapping a four-day losing streak for both. It was not a thunderclap reversal — but after the week, we've had a green close above the $4,000 line is worth pausing on.

Gold markets have a long memory — and June 2026 is proving that point with uncomfortable precision. As the metal has broken below the $4,000 psychological floor for the first time since early in the year, seasoned analysts are drawing stark comparisons to one of the most dramatic collapses in modern commodity history: the February 1983 crash. The parallels are not superficial.

Gold retreated on Tuesday as the U.S. dollar climbed to its strongest level in more than a year, lifting the cost of bullion for buyers holding other currencies and reminding the market that, for now, the path of Federal Reserve policy is doing far more to move metals than events overseas.

Gold futures started the week off opening at $4,163.90 which is a full $64 below the close on Friday at $4,227.90. Gold futures on Monday did manage to gain $18.20 but still closed beneath the closing price on Friday.