Market Analysis
NAS100 week ahead: Quiet calendar tests momentum, 2026-06-15
NAS100 enters the week at 29,643 after volatile swings. No major events scheduled means technical levels drive the action.
2 min readGold 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
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa. Trade gold and other commodities with competitive spreads at LHFX.
