The gold price decline started from 4773, dropping by 400 USD. Will it fall further?

To be honest… uncertain 🙂

Although the gold price trend still shows lower lows (1), 4380 remains a relatively important support/resistance level since October (2). Currently, we need to watch if the buying at 4380 will be fully cleared, and observe if the daily chart closes below 4380 in the next 24 hours. If it successfully breaks through, the next trading range is (3) 4092-4392. Before the next trend emerges, 4380 should provide short-term support, allowing for a 20-40 USD rebound trade.