Gold Price Analysis Today: XAUUSD Falls to Two-Week Low, More Downside Ahead?

XAUUSD decreased by more than 2%

On Tuesday, XAUUSD was prone to fluctuation and fell. It ended down 2.7% at a two-week low of US$4328.78 per ounce.

The USDX climbed

On Tuesday, as US-Iran conflict escalated again, the USDX continued rising during the day. It ended up 0.24% at 99.65.

Gold ETF holdings increased

As of 1^st September 2026, gold ETF holdings reached 1046.64 tons, an increase of 4.28 tons from the previous trading day.

The bearish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, XAUUSD fell sharply. The bearish market trend prevailed in the short term. In terms of technical indicators, KDJ went downwards after death cross occurred, showing that XAUUSD will fall further. Investors should focus on whether XAUUSD will break through the support at 4300. It will decline with potential support at 4230 if it breaks below 4300.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and fell. The bearish market trend prevailed. 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 4350. It will decline if it rebounds but is capped at 4350.

Key resistance: 4350,4400

Key support: 4300,4230

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