The price action early next week is crucial.
Gold extends its decline after failing resistance near $4,382, with price now testing key Fibonacci support zones that may determine whether the broader downtrend continues.
Gold gives back its attempt to recover early on Thursday, as we are watching a potential shift in the overall behavior of this market.
Gold managed to hit a fast drop yesterday after the Fed meeting which was surprisingly against the market expectations over the tone of the Fed. As we see over the chart, the market is facing resistance around 4332 which could keep the chance for another swing towards the 4170 zone.
Gold Price Forecast: XAU/USD hesitates below $4,300 as Fed hiking bets rise
The ongoing US-Iran ceasefire amid Iran-Israel tensions allowed gold and silver to focus on technical levels. Gold retested $4,275 support while silver traded at $68.
Gold: Higher yields and stronger Dollar weigh – Deutsche Bank
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Gold retakes $4,300 as US‑Iran peace deal weighs on USD after hawkish Fed