---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000662422.md"
description: "🏆 Weekly Gold (XAUUSD):💥 Gold Crashes 2.4% – Is the Bull Market Over?🔷 Market OverviewGold suffered one of its sharpest declines in recent months, falling -111.6 points (-2.40%) to close near $4,540.65. The move below $4,600 weakens short-term bullish momentum as traders price in higher for longer US interest rates.🔷 Technical Snapshots🟢 Bollinger Bands (Daily)Price collapsed from the middle band ($4,662.60) and is now testing the lower band at $4,508.61. A break below could accelerate selling toward $4,400.🟢 RSI (Relative Strength Index)Daily RSI 14 dropped to 39.42 – firmly in bearish territory but not yet oversold (30). There may be more room to fall.🟢 Support & ResistanceImmediate support: 4,400. Resistance: 4,816.58 (upper BB). Gold must reclaim $4,660 to stabilize.🔷 Fundamental Snapshot: The selloff wasn’t random. Traders blamed four interlinked drivers:1️⃣ Rising US Treasury yields – making non-yielding gold less attractive.2️⃣ Stronger US dollar – pressuring dollar-priced commodities.3️⃣ Higher-for-longer rate expectations – markets now pricing fewer 2026 Fed cuts.4️⃣ Inflation fears tied to geopolitics – ironically, even inflation fears are hurting gold because they fuel rate-hike bets.Next week two key events now dominate the radar, 20 May 2026 US time:🟢Initial Jobless Claims A vital weekly snapshot of the labor market’s health. A low reading will reinforce Fed hawkishness, pressuring gold toward $4,400.  Previous reported figure was around 211K.🟢 FOMC Meeting Minutes Markets will scrutinise the April 29 meeting for clues on future rate decisions.Key contradiction: Gold typically hedges inflation, but today the market fears the Fed’s response to inflation more than inflation itself.🔷 The VerdictBearish near-term. A close below $4,508 opens $4,400. Wait for RSI to hit 30 or a reclaim of $4,660 before considering longs. Unless you are a day trader😁Not financial advice. Do your own DD."
datetime: "2026-05-16T01:16:54.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000662422.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000662422.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000662422.md)
author: "[Fattycat](https://longbridge.com/en/profiles/19854884.md)"
generator: "portal-rs"
---

# 🏆 Weekly Gold (XAUUSD):💥 Gold Crashes 2.4% – Is th…


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## Comments (1)

- **Fattycat · 2026-05-18T00:41:19.000Z**: Gold at 4485 now 🤭😉


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**