Gold is undergoing its first meaningful correction in years, pulling back toward the $4,400 level and creating what analysts see as a potential value-buying zone for longer-term investors. Markus Thielen’s latest chart shows gold retracing from recent highs near $5,400 toward its 30-day and 7-day moving averages, while its relative performance against Bitcoin remains resilient above the zero line.
The correction comes as markets reprice higher interest-rate expectations and firmer inflation outlooks, pushing real yields higher and creating a traditional headwind for the yellow metal. Despite the near-term pressure, Thielen believes the move may prove transitory rather than a lasting shift in the medium-term outlook.
📊Today’s #BIT Daily Chart – March 24, 2026 ⬇️
Gold Pullback Creates a Value Zone Below $4,400#BIT #Gold #Macro #Inflation #AssetAllocation pic.twitter.com/t9Zk64McjZ
— BIT Official (@BITofficial_EN) March 24, 2026
The price of gold is falling in the short term due to an increase in inflation caused by an increase in oil prices. This may lead to a rise in interest rates, which may affect gold prices. However, in the long term, the price of gold remains positive due to increased demand from central banks, geopolitical factors, an increase in debt levels, and de-dollarization. The forecast indicates a price range of $5,000 to $6,300 by 2026.
$4,400 level emerging as key support
The price of gold has fallen significantly from its peak. This price range of $4,400 may emerge as a key support level where buying may start. A stronger support level exists at a price range of $3,500. Looking at the chart, we can see how well the price of gold compared to Bitcoin has performed. This indicates that the price of gold is not falling as rapidly as Bitcoin in response to current macro-economic factors.
Long-term debt dynamics support gold demand
Over the medium to long term, continued sovereign debt expansion remains a powerful structural driver for gold. Thielen notes that rising government borrowing to fund defence spending and broader fiscal responses to geopolitical uncertainty could strengthen this demand further. In that context, price levels below $4,400 may increasingly attract longer-term allocators looking for a hedge against currency debasement and fiscal imbalances.
Meanwhile, Bitcoin may be approaching the final phase of its current market correction, as several technical and on-chain indicators begin to converge near levels historically associated with market bottoms.
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