Bearish technical signals emerge; New York Mercantile Exchange gold futures may fall below 4,000 USD

(1) RHB Retail Research analyst Aiman Kamil Bin Ahmad Shauqi stated in a report that the overall technical outlook for NYMEX gold futures remains bearish, with the Relative Strength Index on the daily chart trending below the 50% threshold. (2) The analyst pointed out that if the bearish momentum persists over the next few trading days, gold futures may break below the $4,000 per ounce support level and further test the $3,700 per ounce support; on the upside, the initial resistance is at $4,400 per ounce. (3) Spot gold rose 0.1%, quoted at $4,029.67 per ounce.