June 12, 2026
Following a four-day sell-off of over $400, triggered by unexpectedly strong U.S. labor market and inflation data, the price of gold made a sharp turnaround on Thursday. A robust job market and persistent inflation had previously significantly dampened hopes for imminent interest rate cuts by the Federal Reserve. As a result, the non-interest-bearing precious metal lost nearly 10% of its value, breaking below the technically critical 200-day moving average for the first time since October 2023.
However, this massive selling pressure came to an abrupt end late Thursday with a price jump of $140. The trigger was a report from Washington: U.S. President Donald Trump had called off a planned military strike against Iran in favor of new diplomatic approaches. At first glance, the recovery in the gold price seems paradoxical in this context, as geopolitical détente typically dampens demand for safe-haven assets. The price rise is therefore primarily attributable to short-covering. Short sellers took advantage of the news to quickly close out their positions in light of the unpredictable geopolitical environment.
Despite the strong rebound, the chart picture remains weak for now. For a sustainable trend reversal, the precious metal must reclaim the 200-day moving average—which now acts as a key resistance level—on a closing price basis. Only then will the market signal that buyers are regaining control. Until then, investors are navigating a complex landscape: On the one hand, restrictive U.S. monetary policy is capping upside potential; on the other hand, a failure of diplomatic talks in the Middle East could trigger new flight-to-safety moves into gold at any time.
Source: https://goldinvest.de/en/goldpreis-vor-trendwende-200-tage-linie-wird-zum-schluessel
