■ Gold retreats from $2,meme coins website483 peak to $2,364 as dollar gains strength

■ Robust US Q2 GDP growth at 2.8% exceeds market expectations

■ Treasury yield movements suggest shifting market expectations for Fed policy

The precious metals market witnessed notable turbulence this week as gold prices declined sharply following the release of positive economic indicators from the United States. The Bureau of Economic Analysis report revealed stronger-than-anticipated second quarter growth, causing XAU/USD to retreat from recent highs.

Market participants observed a 5% correction in bullion prices since July 17's peak, with multiple factors contributing to the downward pressure. While some analysts attribute this movement to standard market corrections after rapid appreciation, the fundamental backdrop of improving US economic conditions has altered the calculus for precious metals investors.

Detailed examination of the economic data shows several noteworthy developments. The advance estimate for Q2 GDP surprised to the upside at 2.8% quarter-over-quarter growth, significantly outpacing both consensus forecasts and Q1's 1.4% expansion. Concurrently, labor market indicators demonstrated resilience with initial jobless claims coming in below expectations.

Interestingly, the market response created apparent divergence between traditional correlations. While the dollar index strengthened on the positive data, Treasury yields actually declined slightly, with the 10-year note settling at 4.245%. This yield movement appears to reflect growing conviction among traders regarding potential Federal Reserve policy adjustments later this year.

Key Market Drivers: How Economic Indicators Reshaped Gold's Trajectory

The GDP surprise represents the most significant macroeconomic development impacting precious metals this week. The 2.8% growth rate substantially exceeded the 2% consensus forecast, suggesting the US economy maintains considerable momentum despite previous concerns about slowing activity.

Additional economic releases provided mixed signals about manufacturing sector health. While headline durable goods orders showed unexpected weakness, the core measure excluding transportation equipment actually demonstrated modest expansion. This bifurcation in the data complicates the narrative about broader economic trends.

Market participants continue monitoring inflation indicators closely, with particular attention to the upcoming Core PCE release. Expectations suggest modest deceleration in the Fed's preferred inflation gauge, which could influence monetary policy decisions in coming months.

Technical Perspective: Critical Levels to Watch in XAU/USD

From a chart analysis standpoint, gold's breach of the psychologically important $2,400 level triggered additional selling pressure. The breakdown suggests potential for further downside exploration, with several technical indicators now favoring short-term bears.

The Relative Strength Index's recent movement below the 50-neutral threshold provides additional confirmation of shifting momentum. Should current conditions persist, market technicians identify several potential support zones, beginning with the 50-day moving average around $2,359.

Conversely, regaining the $2,400 level could signal renewed bullish potential, potentially opening the path toward retesting recent highs. Market participants will monitor these technical developments alongside fundamental economic data for clearer directional signals in coming sessions.