Gold Price Drops 2% Below $4330: 20-Year Treasury Yield and Falling ETF Holdings Drive Bearish Death Cross Setup

XAUUSD decreased by about 2%

On Tuesday, XAUUSD fell sharply from a high level. It broke below the US$4330 mark for some time. It ended down 1.86% at US$4334.57 per ounce.

The US treasury yield reached a 20-year high

On Tuesday, boosted by multiple positive factors, US 30-year treasury yield rose to the highest level since mid-2007 for some time.

Gold ETF holdings decreased

As of 18^th August 2026, gold ETF holdings reached 1025.24 tons, a decrease of 5.42 tons from the prior trading day.

The bearish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, XAUUSD fell from a high level. It is likely to retreat in the short term. In terms of technical indicators, KDJ went downwards after death cross occurred, showing that XAUUSD will decline further. Investors should focus on whether XAUUSD will break through the support at 4310. It will fall with potential support at 4230 if it breaks below 4310.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and fell. The bearish market trend prevailed in the short term. In terms of technical indicators, MACD went downwards after death cross occurred, showing that the market trend is bearish. Investors should focus on whether XAUUSD will break through the resistance at 4380. It will decline if it rebounds but is capped at 4380.

Key resistance: 4380,4436

Key support: 4310,4230

Generally speaking, the bearish market trend prevailed in the short term. Investors could sell as XAUUSD rebounds during the day.