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 readThe German index opened Monday at 25101.2 and closed Friday at 24845.3, recording a weekly decline of 255.9 points or 1.02%. The week saw a high of 25360.3 on Tuesday before sellers took control, pushing the index to a low of 24649.6 on Wednesday.
Tuesday's rally to 25360.3 proved unsustainable as the index reversed sharply on Wednesday, dropping over 425 points from the session high to close at 24662. The selloff accelerated through the 25000 psychological level, finding support only near 24650.
Thursday saw a partial recovery to 24833.9, but Friday's narrow 97-point range suggests traders are waiting for fresh catalysts. Volume dropped significantly on Friday to 17227 contracts from Thursday's 109031.
No high-impact events are scheduled for the upcoming week. Without major economic releases, price action will likely depend on broader risk sentiment and developments in other major indices. Watch how Nasdaq 100 performs, as tech weakness often spills into European equities.
LHFX client positioning shows 54.6% long versus 45.4% short as of Friday morning. The modest long bias suggests traders expect the 24650 support to hold, though the skew isn't extreme enough to signal overcrowding in either direction.
If GER30 closes above Wednesday's high at 25118.3, the Tuesday peak at 25360.3 comes back into view. If price breaks below Wednesday's low at 24649.6, the next obvious support sits at the round 24500 level. The 25000 mark remains the key psychological pivot between bullish and bearish control.
Byline: LHFX Research
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