Gold prices remain pinned near a major support zone after weeks of sideways trade, with XAU/USD continuing to hold a critical technical floor near the lows of the monthly range. The broader outlook remains extremely sensitive to this region, where a sustained break would threaten a deeper correction while a successful defense could stabilize the recent decline.
United States CFTC Gold NC Net Positions fell from previous $171.6K to $159.8K
Gold price slips as Waller's hawkish comments lift USD
Precious metals markets are losing ground as traders worry that Fed will be forced to raise rates to fight inflation.
Gold printed below 4500 which could lead to another drop. As we see over the Intraday chart the market is facing resistances at 4570-90 and 4670.
The gold market fell back a bit on Friday, despite the fact that rates drifted a bit lower. At this point, the market is probably looking for a reason to move, but heading into the weekend makes it difficult.
Gold prices face pressure as rising oil, Fed rate hike bets, and a stronger dollar weigh on XAUUSD and weaken bullish sentiment.
Gold holds within weekly range as US-Iran talks remain in focus
Gold Price Forecast: XAU/USD keeps looking for direction above $4,500
Gold and silver moved sideways to lower as investors balanced sticky CPI data against the holding US-Iran truce. Gold confirmed channel breakdown to $4,521 while silver slipped to $75.86.
Gold: Sideways trade with capped upside – OCBC
Gold and silver prices remain under pressure as the strong US dollar, higher Treasury yields, and Fed rate-hike risks keep buyers cautious near key support levels.