Gold (XAUUSD) – Structure Breakdown Looming Below $3,300

Monthly exhaustion and daily weakness signal potential expansion to $3,000 zone

Market Overview

Gold continues to consolidate near its all-time high, but the multi-timeframe structure now shows signs of potential exhaustion. The failure to cleanly break the $3,433 level has kept the market trapped in a distribution phase, and the most recent rejection near this top suggests a break in structure could be underway.

With monthly and weekly pivot levels clearly defined, the focus now shifts to the bearish continuation setup developing below the $3,291 weekly level.

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Long-Term Outlook

The monthly chart shows a classic parabolic arc structure terminating into the 313.2% Fibonacci extension near $3,338. This level has now acted as resistance for several months, signaling the exhaustion of the prior expansion.

Two key monthly pivot levels at $2,743.84 and $2,623.80 remain untested post-breakout, and these offer logical downside magnets should structure fail here.

Weekly Chart

The weekly timeframe confirms the transition out of the expansion phase and into a broad distribution zone, capped by resistance at $3,433.88 and supported by the weekly pivot at $3,291.99.