Gold Price Forecast: Impending Death Cross hints at more XAU/USD downside

Gold prices continue to weaken early Thursday, hovering near seven-month lows around $3,950. The metal failed to sustain a recovery attempt above the $4,000 level, suggesting sellers remain in control.

A death cross — when the 50-day moving average crosses below the 200-day moving average — is approaching on the daily chart. This technical pattern is widely viewed as a bearish signal, potentially accelerating the sell-off.

Traders are now watching for a decisive break below the $3,950 support zone. A close beneath this level could open the door to further losses toward the next major support near $3,900.