Market Analysis
NAS100 weekly: tech index drops 287 points to 30128, 2026-06-01
NAS100 shed 0.94% this week, closing at 30128 after touching 30760 midweek before sellers stepped in.
2 min leesGold opened Monday at 4539.41, reached a weekly high of 4545.79 early in the session, then drifted lower throughout the week to close Friday at 4436.63. The net decline of 102.78 points represents a 2.26% drop, with the weekly low printing at 4423.89 on Wednesday.
Goldman Sachs told clients to buy US equity dips on Thursday even as their data showed risk appetite hitting the highest level since 2021. This renewed confidence in equities pressured gold lower, as traders rotated out of safe haven positions.
The steady decline through the week suggests profit-taking after recent gains, with each daily close below the prior day's open reinforcing the bearish tone. Volume peaked on Wednesday at 171,246 contracts when price tested the weekly low.
No major economic events are scheduled for the upcoming week according to the data bundle. Without key risk events on the calendar, gold price action will likely track broader market sentiment and any shifts in equity positioning.
Current positioning shows 55.3% of traders are long gold versus 44.7% short. This modest long skew suggests traders remain constructive on gold despite the weekly decline, though the balance is close enough that sentiment could shift quickly on any catalyst.
The weekly low at 4423.89 becomes immediate support. If that level fails, the psychological 4400 round number comes into focus. On the upside, reclaiming 4460 would neutralize the bearish weekly close, while a move above the Tuesday high at 4541.34 would signal renewed buying interest.
Byline: LHFX Research
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LHFX is 'n handelsnaam van Longhorn Ltd, 'n Mauritiuse maatskappy gemagtig en gereguleer deur die Financial Services Commission Mauritius onder die Investment Dealer-lisensienommer GB23202204, Kode SEC-2.1B. Kantooradres: Suite 102, 1ste Verdieping, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius. GBC-nommer C200455
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RISIKAWAARSKUWING
Margehandel in buitelandse valuta, virtuele bates of ander buite-beurs-produkte op marge dra 'n hoë vlak van risiko en is moontlik nie vir almal geskik nie. Ons adviseer u om noukeurig te oorweeg of handel vir u gepas is in die lig van u persoonlike omstandighede.
CFD's is komplekse instrumente en dra 'n hoë risiko van geldverlies as gevolg van hefboom. Oorweeg of u verstaan hoe CFD's werk en of u die hoë risiko van geldverlies kan bekostig.
Belasting mag betaalbaar wees op enige winste en u behoort onafhanklike advies oor u belastingposisie in te win.