Will gold prices go down further? A clear answer based on the 2026 trend and technical signals.

Will gold prices go down again? The answer is “Yes, very likely.” Although in 2569, the trend for gold shows a continuous upward movement, reaching historic highs has led investors and traders to take profits inevitably, causing a temporary pullback, which is part of the market’s normal cycle.

Yes, gold prices still have room to fall – Indicators of profit-taking

Despite central banks worldwide remaining net buyers of gold for the 15th consecutive year with approximately 755 tons in 2569, the strength of this buying momentum has decreased compared to 2567-2568. The main factors suggesting a potential price correction are:

RSI entering overbought territory at $5,000 – This is a technical warning sign indicating the price has gone too far. Short-term investors are taking profits, and most are doing so now.

Concerns over easing geopolitical tensions – After Greenland’s situation eased with the “Davos Compromise” on January 21, 2569, many risk-averse assets were sold off, putting pressure on gold.

Demand from Thailand’s foreign exchange – In Thailand, the relationship between “gold prices and the baht” means that when gold prices hit their peak, many investors sell to realize profits, converting foreign currency back to baht. This conflicts with the Bank of Thailand’s policies to control online gold trading through measures like large transaction reporting (over 20 million baht) and daily trading caps (50-100 million baht).

The uptrend of gold is not weakening, but volatility is inevitable

It’s important to understand that whether gold will go down again does not mean a long-term bear cycle, but rather a correction to create space for the continued upward trend.

Major financial institutions like Goldman Sachs, J.P. Morgan, and Bank of America confirm target prices in the range of $5,000–$6,000 per ounce within the next 12 months. Goldman Sachs sets a target of $5,400, while J.P. Morgan expects ETF inflows to continue because the global gold allocation in investment portfolios is only 2.8%.

The drivers of the bullish outlook remain effective, but:

• De-dollarization will continue, though the pace of new investments may slow.
• Geopolitical conflicts remain risk factors but do not always lead to strategic considerations that push gold prices higher.
• Federal Reserve interest rate policies are expected to be cut only once in 2569, which is more balanced than previous expectations.

Gold price zones: where to buy or wait?

For those asking if gold prices will fall further, here are key technical zones to watch:

Main resistance: $5,000 – This is a critical psychological barrier. If the price breaks above this, the next resistance targets are $5,600 (already touched in January) and $6,000.

Strong support: $4,680–$4,750 – This area is a good zone for accumulating gold. If prices decline further from here, major supports are at $4,360–$4,450, presenting long-term investment opportunities.

Warning signals: RSI > 70 – When RSI (Relative Strength Index) enters overbought territory, investors should avoid new purchases as profit-taking likelihood increases.

In Thailand’s context – When gold prices imported from $5,600, the local price in Thailand might decrease from the high of over 70,000 baht. However, the “Gold-Baht Correlation” means Thai prices may not fall proportionally, which could be an opportunity for investors to buy again.

Investment tools: physical gold or CFD trading based on the trend?

Will gold go down again? Regardless of the answer, choosing the right investment tool is crucial.

Physical gold: When prices exceed 70,000 baht per bar, investors need a large capital outlay and face liquidity issues. Selling at a gold shop takes time, and shop margins may cut into profits.

Gold CFD trading: Through platforms like Mitrade, traders can:

• Enter with smaller capital (using leverage)
• Profit from both rising and falling markets
• Receive real-time analysis reports and technical tools
• Trade 24/7 without waiting for shop hours

The main reason CFDs gained popularity in 2569 is their flexibility in handling volatility. When gold prices might decline, CFDs allow traders to profit from downward movements as well.

Recommended strategies:

1. Watch for downward signals – Buy when prices touch $4,680–$4,750.
2. Monitor RSI – Avoid buying when RSI > 70.
3. Use Stop Loss – To protect against larger losses if conflicts escalate.
4. Accumulate around $4,360–$4,450 – If prices continue to fall, consider adding positions.

Summary: Will gold go down again? Yes, but it’s an opportunity, not the end.

The macro outlook for gold prices in 2569 remains bullish, but short-term volatility is unavoidable. Whether prices will decline again depends on institutional bearish moves, technical signals, and geopolitical developments.

Indicators suggest a 3-5% correction from the $5,600 high is healthy to pave the way for the continued rally toward $6,000 within 6-12 months.

Therefore, the final answer is: Will gold go down again? Yes, there’s a chance, but this correction is part of the larger upward trend. Smart investors will wait for a pullback before buying, rather than chasing after the peak.