{"id":28349,"date":"2026-06-09T20:02:43","date_gmt":"2026-06-09T20:02:43","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=28349"},"modified":"2026-06-09T20:02:45","modified_gmt":"2026-06-09T20:02:45","slug":"golds-fall-and-recovery","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/golds-fall-and-recovery\/","title":{"rendered":"Gold\u2019s Fall (and Recovery?) [Elliott Wave]"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trend Bias:<\/strong> Gold (XAUUSD) appears to be nearing the ending stages of wave <strong>y of (ii) lower<\/strong>.<\/li>\n\n\n\n<li>Gold is currently trading below the<strong> 200 Day Simple Moving Average<\/strong>.<\/li>\n\n\n\n<li>Failure to hold current levels may imply a retest of <strong>$4,099<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Gold has been correcting lower since a near-term top developed on April 17. The wave count appears mature and RSI divergence is showing up hinting that a bullish pivot may be nearby.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Current Elliott Wave Analysis<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"596\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10-1024x596.png\" alt=\"\" class=\"wp-image-28350\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10-1024x596.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10-300x175.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10-768x447.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10-1536x894.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/06\/XAUUSD_2026-06-09_14-54-10.png 1634w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The current <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave<\/a> count for gold shows the yellow metal is in wave <strong>y of (ii)<\/strong>, a corrective dip.<\/p>\n\n\n\n<p>This wave (ii) is correcting the rally from March to April. When modeled out, wave (ii) would hold above <strong>4,099 <\/strong>so as not to break any of Elliott\u2019s rules<strong>.<\/strong> Prices have reached the <strong>78.6%<\/strong> <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-retracement\/\">Fibonacci retracement<\/a> level of the wave (i) rally. This fib level sits at <strong>4,257<\/strong> and is viewed as the support of last resort.&nbsp;<\/p>\n\n\n\n<p>There is another wave relationship near <strong>4,185<\/strong> where wave \u2018y\u2019 would be <strong>1.618 times the length of wave \u2018w\u2019<\/strong>\u2026a common relationship.<\/p>\n\n\n\n<p>If gold prices continue to fall through these two support zones, then likely continues to retest the <strong>4,099<\/strong> <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support<\/a> from March.<\/p>\n\n\n\n<p>We are cautiously viewing this decline as a wave (ii) partial retracement of wave (i). However, with gold prices currently trading below the 200 day <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/simple-moving-average\/\">simple moving average<\/a>, it is possible that a larger correction is unfolding that falls below <strong>4,099<\/strong>.<\/p>\n\n\n\n<p>This is the end of wave (ii), then wave (iii) would be a strong rally that pushes up to retest all-time highs. In the meantime, a rally above <strong>4,515<\/strong> would signal that <strong>wave (iii) may be underway<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>Gold appears to be declining in wave <strong>y of (ii)<\/strong>, a larger bearish double zigzag pattern. The pattern is mature and is nearing its end, possibly in the <strong>4,185 &#8211; 4,257<\/strong> price zone.<\/p>\n\n\n\n<p>If this is correct, then gold would rally from that bullish reversal zone to retest all-time highs. In the unexpected event of gold prices pushing below <strong>4,099<\/strong>, then we\u2019ll need to adopt an alternate wave count.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold (XAUUSD) is declining in wave (ii) and is approaching an important support zone. As a result, a wave (iii) may begin soon. View key levels to watch now.<\/p>\n","protected":false},"author":160,"featured_media":28356,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-28349","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold\u2019s Fall (and Recovery?) [Elliott Wave] - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Gold (XAUUSD) is declining in wave (ii) and is approaching an important support zone. As a result, a wave (iii) may begin soon. View key levels to watch now.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/golds-fall-and-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold\u2019s Fall (and Recovery?) [Elliott Wave] - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"Gold (XAUUSD) is declining in wave (ii) and is approaching an important support zone. As a result, a wave (iii) may begin soon. 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