# Enzel: Single-Day Plunge Exceeds 8.7%, Gold Posts Largest Drop in Nearly Forty-Three Years

The Fed's hawkish stance has intensified, causing gold to decline sharply, with support levels continuously breached and bearish sentiment dominating the market. The high interest rate cycle persists, with the US dollar and US Treasury yields rising in tandem, triggering massive capital outflows. Gold prices have broken through successive levels in a one-sided downtrend.

After opening lower yesterday morning, price rebounded to the 4537 level before plunging sharply. Bottom-fishing funds exited, with the low touching 4097. Intraday losses exceeded 8.7%, nearly wiping out all gains from 2026, marking the largest single-day decline since March 1983. The daily chart shows consecutive massive bearish candles breaking support levels, while the hourly Bollinger Bands have widened significantly downward, with gold prices trading weakly along the lower band and showing weak rebounds.

After dropping 60 points in early trading today, a strong bounce occurred, returning near 4450. The overall trend remains bearish, with recommendations to wait for rebounds before trading downside in line with the trend. Attention levels above: 4500-4510 short-term resistance, 4550-4580 key resistance, with focus on 4600-4635 as the bear/bull watershed; attention levels below: 4100-4110 key support. Operations should focus on selling on rebounds, with real-time updates during the session.

Gold Trading Strategy:
Sell on rebounds at 4500-4520, add short positions at 4530-4550, stop loss at 4590, target 4300-4320.

Disclaimer:
The above analysis is Enzel's personal analysis for reference only and does not constitute any investment advice!