Just before the start of the US session, the gold price fell sharply and broke below the support around the $ 1740.8. As can be seen in the chart below, a bottom shadow is currently forming, which poses a risk of a rebound. However, if the price remains below the aforementioned level of $ 1740.8 (which should now act as resistance), a deepening of the sell-off is possible. The $ 1729 zone should be considered as major support, and is marked with earlier price reactions and 78.6% Fibonacci retracement.
GOLD interval M15. Source: xStation5
US Open: Nasdaq, gold and silver surge following... an interest rate hike (17.09.2026)
Chart of the day 🔼 Gold rebounds 1.3% despite hawkish Fed stance (17.09.2026)
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls
Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.