Looking at the current gold chart & macroeconomic scenario, gold is expected to settle / take a down turn here for 3-6 months before rebounding to its January / February 2026 highs. The biggest caveat here is the interest decision of Federal Reserve (the first hike expected in September 2026), high crude prices & the easing off of the war between Iran & USA / Israel. The biggest clue here comes from the behavior of Gold on daily time frame in Early 2022 (specifically 17th March 2022) when the Fed raised interest rates 7 times in a row from almost 0-0.25% to 4.25-4.50% in just a single year. Gold broke below its 200 DMA & created a death crossover (50DMA/200DMA) & took almost a year just to cross the March 2022 highs. Current daily chart of Gold is playing a nearly identical image, except for the fact that the clarity on interest rate is still pending but the US10Y bond yields are already at ATH & crude is still a bit rattled. All I am saying is that for day traders the trend is going to be bearish for a couple of months & bullish once it rebounds. For long term investors there can be an expectation of a couple more buying opportunities. Lets wait & watch...... but I do not think it will take too long.