With the effect of the rapid decline in recent days, gold has directed investors’ attention to support points and downside risks rather than upward targets. The precious metal, which has followed a significant upward trend since the beginning of 2025, rose above $ 5,300 in a short time, but fell below $ 4,500 after the sharp sales in March.
The Rise in Gold Slowed Down in the Last Year
The last year’s data show that gold was traded at $ 4,488.70 and lost 3.48 percent of its value during the session. The gold price, which was traded around $ 3,000 in early 2025, rose with great momentum at the end of the year and reached over $ 5,300. However, as sales became dominant in the market in March, the price started to follow a downward trend again. During this period, short-term expectations changed and investors turned to evaluate possible new support points.
Sales Pressured the Market in March
On the 20th and 21st of March, there was a significant selling pressure in gold prices in the international spot market. Although the price tried to recover from time to time in transactions between $ 4,800 and $ 4,400, the selling side remained strong at the end of the session. XAU/USD parity dropped to $ 4,491.15 in the session and showed a decrease of 3.45 percent. The loss reached 10.52 percent throughout the week and 12.01 percent in the last month. On the other hand, gold, which maintained its positive return outlook, albeit slightly, in the three-month period, recorded an increase of 21.88 percent in six months and 48.54 percent in the one-year period.
This fluctuation in the spot market had an impact on a wide range of investors, especially investors who traded in gold futures contracts and funds that included gold as a protection tool in their portfolios.
Technical Indicators Point to Strengthening Downward Movement
Bollinger bands, which stand out in technical analysis, set the upper limit at $5,465.56, the middle band at $5,069.39, and the lower band at $4,673.22. In the last movement, the price fell below the lower band, increasing the downward pressure and indicating an oversold market structure. In the daily technical charts, gold started at $4,659.03, reached $4,735.93, then eased to $4,477.38 and completed the day at $4,496.99. Intraday trading volume was recorded as 529,690, which was interpreted as high market participation during the sharp decline.
While the signal line on the MACD indicator was at 12.02, it was seen that the MACD line was at -66.71. The fact that the histogram was in the negative zone at -78.73 showed that the effect of the sales wave in March was getting stronger.
These developments in the technical chart of gold revealed that the market has become more open to downward movements in the short term.
Investors have recently started to pay attention to the support points and evaluate at what level the price can find balance.
The course of the market in the coming days will be shaped according to international developments and the course of sales pressure.
