Gold: Deeper pullback eyes October lows – Societe Generale
By FXStreet Insights Team
Updated: 30 Jun 2026
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Societe Generale strategists note that Gold has extended its decline after breaking the 50-day moving average in March and is drifting toward the late October 2025 lows. While the move looks stretched, they see no clear rebound signals yet.
Societe Generale strategists note that Gold has extended its decline after breaking the 50-day moving average in March and is drifting toward the late October 2025 lows. While the move looks stretched, they see no clear rebound signals yet. A short-term bounce would face resistance at a recent pivot high, while a break of key support would open lower downside projections.
Key supports and resistance mapped
"Gold has experienced a deeper pullback after breaking its 50-DMA in March. It is gradually drifting toward the late October 2025 lows of $3,930/3,885."
"While the decline appears somewhat stretched, signals of a meaningful rebound are not yet visible."
"Should a short-term bounce emerge, the recent pivot high at $4,100 may act as the initial resistance."
"Below $3,885, the next projections could be located at $3,750 and $3,600."
"A break above this would be important to confirm a larger recovery."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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