Veteran Trader Gives Critical Warning for Gold Price - Yahoo Finance

AI desk brief

Veteran trader Peter Brandt warns gold could be vulnerable to a sharp technical break if the $4,100-$4,200 support zone fails, with his chart implying a potential slide toward $2,890. Gold was quoted near $4,194/oz on Oct. 10, about 22% below its January peak near $5,405 and roughly 4% lower year to date.

The bearish chart setup is being weighed against ongoing official-sector demand: the People’s Bank of China reportedly added 740,000 ounces last month, its largest purchase since 2023, and has now bought for 23 straight months. Broader price volatility has been amplified by shifting Fed rate expectations and rising Treasury yields, leaving the neckline break in focus over the coming weeks.