Gold Price Analysis: XAU/USD Slips as Trader Closes Hyperliquid Short

Gold’s prices came under renewed selling pressure. At the moment of writing, XAU/USD is trading around $4,501.

The trade was accompanied by reports from S.A.N.T.A., indicating that a Hyperliquid perps trader liquidated all of their GOLD short positions after hundreds of trades executed overnight. They kept another HYPE long position open, showing the trader’s multiple market positions under separate frameworks.

Hyperliquid Trader Completes Gold Shorting

A Hyperliquid perps trader closed all their gold short positions this morning with S.A.N.T.A., noting hundreds of trades executed overnight. The short was entered on May 29 and then cleared during the last scan cycle.

During the execution of the gold trade, the trader kept an open HYPE long position without scaling out. That trade was initiated on May 18 at approximately $45.95 and has gained approximately $1.07 million as unrealized profits.

As per the analyst’s X chart, the data indicate that these differences are crucial for market interpretation. The gold position represents a short-term, strategic trade, while the HYPE position is on a longer-term horizon. The closed gold short indicates that a derivative trader has already profited from gold’s downturn.

However, a closed short doesn’t automatically signal an uptrend in prices. It only suggests that the trader closed that bearish position following gold’s drop to a lower range.

Analyst Focuses on $4,490 to $4,510

According to JMH House of Analysis, the 15-minute gold chart setup appears to remain clear following wave five reaching its peak at $4,595, the 1.618 Fibonacci retracement. The analyst indicated that wave A appears to be in progress between $4,490 and $4,510.

The same analyst X chart report outlines targets of $4,546 for a wave B correction and $4,456 for a wave C drop. Thus, gold is trading within a decision zone after its recent decline.

A rebound from the $4,490-$4,510 range may see gold trend higher toward $4,546. Conversely, a breach below $4,490-$4,510 would renew selling pressure toward $4,456.

The 15-minute chart suggests a corrective pattern after gold’s most recent high. Price no longer continues to climb aggressively, and subsequent movement will hinge on the ability of buyers to defend current support levels.

Daily Momentum Remains Weak on TradingView

TradingView showed gold trading at $4,501.42 at the moment of writing, marking a $39.10 loss on the day, with price action clearly exhibiting sellers emerging from the $4,546 high.

The MACD remained weak, with its line trading around -50.249 (below the signal line at -47.628) and the histogram at -2.621, signaling continued selling momentum on the daily chart.

According to TradingView, the Chaikin Money Flow was flat near zero, indicating a lack of buying advantage and a bearish leaning at gold’s support levels rather than any indication of an upcoming upswing.

A break above $4,546 would bolster a short-term upswing. However, a failure of gold to break below $4,489 on the daily chart would bring the $4,456 level back into consideration, suggesting that sellers are in control of the general price trend.