Market Analysis
XAUUSD weekly: gold retreats 103 pips to 4436.63, 2026-06-01
Gold opened the week at 4539.41 and closed at 4436.63, shedding 103 pips as risk appetite improved.
2 min leesSilver opened Monday at $75.543 and closed Friday at $72.208, a drop of $3.335 or 4.4%. The week's high came early Tuesday at $76.974, while Wednesday's session produced the low at $72.420. Friday's volume of 39,177 contracts was notably lighter than the 140,000+ daily average earlier in the week.
The dollar's broad strength dominated precious metals this week. Thursday's headline confirmed USD reversed its earlier declines against EUR, JPY, and GBP, putting pressure on dollar-denominated commodities. Silver's Wednesday selloff accelerated as traders rotated out of industrial metals.
Asian market stress added to the bearish tone. South Korea's KOSPI dropped sharply on Thursday while the won hit a 17-year low against USD. The PBOC set its USD/CNY reference rate well above estimates, signaling tolerance for yuan weakness. This combination pushed safe-haven flows toward the dollar rather than precious metals.
No high-impact economic events are scheduled for the upcoming week. Without major data releases, silver will likely track broader dollar movements and risk sentiment. If Asian markets stabilize, you could see some recovery toward the $73.50 area. Continued stress in Korea or China would keep pressure on industrial commodities, potentially testing support near $72.00.
LHFX client sentiment shows 62.6% of positions are long, with 37.4% short as of Thursday morning. This long bias suggests retail traders are viewing the dip as a buying opportunity. When the majority leans one way after a sharp move, the market often tests their conviction before reversing.
The week's low at $72.420 is immediate support. If price closes below $72.00, the next major round number becomes relevant. Resistance sits at Wednesday's high of $75.039, then Tuesday's peak at $76.974. A close above $75.00 would signal the selloff has paused.
Byline: LHFX Research
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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.