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macroJun 8, 2026, 1:54 PM

Gold Extends Decline, Hits 2½-Month Low After Friday's 3.2% Plunge

Gold prices continued their slide on Monday, touching a 2½-month low as losses from Friday's sharp drop persisted. The metal may pause near a bear-channel support line.

XAUUSD

Gold remained firmly in the red on Monday, extending Friday's 3.2% decline—the largest single-day loss since March. The precious metal hit a fresh 2½-month low during the session.

Technical analysts note that gold could take a breather as it approaches a bear-channel support line, which may provide a temporary floor. However, the overall trend remains bearish following the steep sell-off.

Source: FXStreet Forex News