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Gold Prices CRASH! Is the Bull Run OVER?

Gold has just taken a nosedive, plummeting 2.8% last week as it struggled to hit new heights! Just when you thought it was airborne, it broke below the crucial $3,300 support line on Friday. A slight recovery at the start of this week leaves us biting our nails—where will it land by the end of the session? Buckle up!

As we near month-end, it looks like gold may close flat, having done the same in May. What on Earth is going on? A combination of profit-taking and sagging demand for haven assets, spurred by a sudden peace in the Middle East conflict, has crushed the precious metal’s momentum.

Gold’s Trend Line SHATTERED! What’s Next?

Folks, hold on to your wallets! Gold has obliterated its 2025 bullish trend line around the $3,295 mark. Keep those eyes peeled! If it rallies above this trend line today, we could see a miraculous rebound, suggesting a false breakdown. Smash through that recent high of $3,350, and it could set off fireworks with a fresh surge in gold prices!

But beware! If gold stubbornly remains below that broken trend line, a deeper correction in early July is almost a certainty. Watch for these critical levels:

• $3,250: Today’s low and a crucial support level.
• $3,200: The next big round number.
• $3,167: The early April high—previously reclaimed!

Oh, and let’s not forget: $3,000 is looming just below—a psychological line in the sand! Will gold sink to this level? The tension is palpable!

Stock Market SURGES—Gold FLAILS!

Thanks to a sudden thaw in the Israel-Iran conflict, investors are sprinting back to the red-hot tech sector, lifting stocks to new highs last week! The Nasdaq and S&P 500 futures erupted, especially after Canada rolled back its digital services tax to get trade talks back on track with the U.S.!

But this stock rally is pulling gold down like an anvil! As haven demand plummets, even the dollar’s decline isn’t saving gold from its bottom plunge. Can the shiny metal bounce back, or is it stuck in the mud?

What’s Ahead for Gold THIS WEEK?

Eyes are glued to U.S. economic updates this week, but without any fresh chaos in the Middle East, can we expect gold to rally at all? The stakes are high, with the July 9 deadline for trade talks creeping closer. Here are the critical macro events to watch:

1. ECB Forum on Central Banking (Tuesday, July 1)

Watch out for powerful words from central bank giants like Powell and Lagarde. A dovish twist could give gold a much-needed lift!

2. U.S. JOLTS Job Openings (Tuesday, July 1)

This key indicator will show us whether the job market is booming or crumbling. A weak report might just pump gold back up as the dollar struggles!

3. U.S. Non-Farm Payrolls (Thursday, July 3)

This is the BIG ONE! With other big announcements rolling in, this could be a game-changer for July. A bad report? Expect gold to soar!

Don’t miss a beat! The gold market is wild and unpredictable. Keep your eyes peeled for all the juicy news that might just change the game!