---
title: "Ed Yardeni Warns Gold Could Sink To $4,000 After Sharpest Weekly Decline In Months—But Doesn't Stop Being Bullish"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289066123.md"
description: "Gold prices dropped sharply, falling below the 200-day moving average to $4,321.80 due to strong US payroll data boosting rate expectations. Ed Yardeni identifies $4,000 as potential support but remains bullish, forecasting $5,500 by year-end and $10,000 by decade's end once geopolitical tensions ease. Other analysts note increased vulnerability to technical setbacks."
datetime: "2026-06-08T13:34:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289066123.md)
  - [en](https://longbridge.com/en/news/289066123.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289066123.md)
---

# Ed Yardeni Warns Gold Could Sink To $4,000 After Sharpest Weekly Decline In Months—But Doesn't Stop Being Bullish

> Gold futures fell to $4,321.80 an ounce on Monday, their biggest decline since March, with **Ed Yardeni**, founder of **Yardeni Research**, identifying $4,000 as a potential support level.
> 
> Gold prices extended their decline after a 3% drop on Friday, marking the metal’s biggest one-day fall since March 26. The precious metal also posted a 4.9% weekly loss, its steepest weekly decline since the week ended March 20, reported MarketWatch on Monday, citing Dow Jones Market Data.
> 
> **Bart Melek** said on CNBC that stronger-than-expected payroll data is increasing gold's cost of carry, which could weigh on the metal's appeal.
> 
> Ed Yardeni highlighted that gold dipped below its 200-day moving average of $4,443.4 per ounce on Friday. “We reckon the next support is at $4,000,” Yardeni conveyed to clients in a Sunday note, asserting that they are not giving up on their bullish outlook on gold.
> 
> Yardeni expects gold’s rally to resume once the Iran conflict ends, forecasting prices to reach $5,500 by year-end and $10,000 by the end of the decade.
> 
> **Ole Hansen**, head of commodities strategy at **Saxo Bank**, concurred with Yardeni’s views, stating that the technical picture for gold has become more challenging. He pointed out that the recent bullish behavior of investors, coupled with a sharp reduction in bearish stances, has left gold “increasingly vulnerable to a technical setback once key support levels gave way,” according to the report.
> 
> **Read Also: Forget Oil, Iran War Is Sending Global Shipping Costs Through The Roof**
> 
> ## Gold Sell-Off Sparks Market Caution
> 
> The recent fall in gold prices contradicts the common belief of gold being a safe haven during geopolitical risks, as seen during the Iran war. 
> 
> Furthermore, the metal’s dip below its 200-day moving average, typically viewed as a bearish signal, has put traders on alert. However, historical data from the last 10 times gold fell below its 200-day moving average suggests that short-term weakness has often been followed by stronger long-term performance, indicating a buying opportunity.
> 
> **Price Action:** On a year-to-date basis, **SPDR Gold Shares** (NYSE:GLD), **iShares Gold Trust** (NYSE:IAU), **VanEck Gold Miners** ETF (NYSE:GDX) fell 0.51%, 0.42%, 8.04%, respectively.
> 
> **_Disclaimer_:** _This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors_.
> 
> _Image via Shutterstock_
> 
> **Read Also: NVIDIA CEO Says AI's Future Isn't Just Copper**

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