July 25, 2025 - (Gold Market Wire) - Gold's sell-off is turning into a breakdown, as the market now closes in on a critical line of support.

...and the zoom out:

Now the trend line is coming into play, and it needs to hold - today. If not $3250 is calling out for the next challenge.

Traders need to lighten up, or, if the close starts to go bad, properly un load length. Flat price Silver traders should follow Gold now. The ratio is working out like a dream - and, as we initially indicated, was and is probably indicating a lower flat price.

The traders who have ridden the market strong want to be flat to go on holiday. Liquidation is proceeding.

The Bull is not dead. Not by a long shot. It is simply ahead of itself at the wrong time of the year.

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Though Experiment: Gold is a (inverse) barometer of confidence - particularly in government and its ability to provide existential 'comfort'. So, it should be rising and rising, no? Is the, now firmly, politically embattled Trump administration reaching a point where its ability to proceed with its multi-front wars in Iran, Ukraine, South China Sea, being inhibited...causing Gold's war premium to melt away? Or will an embattled administration lash out and prosecute wars more aggressively, to cover its diminishing political power at home?

...for your consideration.

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