Gold Price Breaks Below 200-Day Average. Is a Death Cross Approaching?

Gold prices shifted lower today to $4,334 per ounce, marking an 8% decline over the past month and sitting firmly below the closely-watched 200-day moving average at $4,408. The technical breach, the first sustained move below this key support level since October 2023 has sent some shocks through share markets, with ASX-listed gold miners bearing the brunt of the selloff.

Gold’s decisive break below its 200-day moving average has triggered sharp losses across Australian gold producers, raising questions about whether the metal’s multi-year bull run has entered a sustained correction phase.