---
title: "Gold is  sinking with the US dollar rising and yields moving higher"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288890780.md"
description: "Gold prices dropped 3.2% to $4,333, falling below key technical supports including the 200-hour moving average and the 50% retracement level. This decline, driven by a rising US dollar and higher yields, marks a shift in near-term bias toward sellers. Although gold remains down 22.95% from its January record high, traders are monitoring the March low of $4,067 and the 61.8% retracement level as critical support zones."
datetime: "2026-06-05T16:59:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288890780.md)
  - [en](https://longbridge.com/en/news/288890780.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288890780.md)
---

# Gold is  sinking with the US dollar rising and yields moving higher

Gold is under heavy selling pressure, falling **$143, or 3.2%, to $4,333**. The sharp decline has pushed the price **below its 200-hour moving average for the first time since October 2023**, a development that shifts the near-term technical bias more firmly in favor of the sellers.

The move lower also broke below the **50% retracement of the rally from the May 15 consolidation low at $4,359.86**. While it is important to note that the 200-hour moving average has steadily risen along with gold's longer-term uptrend—sitting near $1,900 back in October 2023—the significance lies in the fact that the level had consistently acted as support during recent pullbacks. Most notably, buyers leaned against the moving average on **March 25** and again on **May 27** before launching fresh advances.

Gold reached a **record high of $5,598.75 on January 28**. Since then, the metal has declined **22.95%**, highlighting the extent of the current correction. Despite today's weakness, the **March low at $4,067** remains an important downside target and a key barometer for sellers. Traders will also be watching the **61.8% retracement of the advance from the May 15 low**, which represents another significant support level and could become the next battleground between buyers and sellers.

With both the **200-hour moving average** and the **50% retracement level** now broken, **sellers have seized near-term control**. It would take a move back above those levels to ease the downside pressure and improve the technical outlook.

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