RHB Retail Research: Gold may find support at $4,000, but downward moving averages still pose pressure

汇通财经2026/07/02 07:26

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(1) RHB Retail Research analyst Joseph Chai stated that NYMEX gold futures may have found support at $4,000 per ounce, with the latest positive price trend on the daily chart indicating that the first support level has been established at this level. (2) Chai noted that, given precious metals appear to be undergoing consolidation, prices may move sideways along this level; however, both the 20-day and 50-day simple moving averages are steadily declining, which could exert downward pressure on the commodity. (3) On the upside, initial resistance is at $4,400 per ounce; spot gold rose 0.9% to $4068.34 per ounce.

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