Gold analysis for Tuesday, September 1, 2026

Gold (XAU/USD) is trading under slight selling pressure today, continuing its downward correction for the third consecutive session, with the price hovering near the $4,420-$4,430 per ounce range.

This decline coincides with rising bond yields and a stronger US dollar, as investors await the release of US non-farm payrolls (NFP) and services sector data to bolster interest rate expectations ahead of the upcoming Federal Reserve meeting.

Key Technical Levels for Today:

- First Resistance: $4,450-$4,455 (A break above this opens the way towards $4,500-$4,530).

- Key Pivot: $4,435.

- First Support: $4,415-$4,400.

- Second (Major) Support: $4,370-$4,350.

Technical Analysis Indicators (Daily Range)

- Overall Trend: Neutral to bearish in the short term within a sideways corrective range, while the overall trend in the medium and long term remains bullish.

- Relative Strength Index (RSI 14): Moving near 42, indicating moderate selling momentum without reaching oversold territory.

- Moving Averages: The price is facing pressure below the 20-day moving average, while holding above the 50-day moving average, which provides significant structural support at the $4,370 level.

Expected Trading Scenarios

- Bearish Scenario (Currently Likely): A break below the $4,415-$4,400 support level and a close below it could push gold to test the next major support zone at $4,370.

- Bullish Scenario: A break above $4,455 and a resumption of bullish momentum would end the current corrective move and target $4,500 and then $4,535.