Gold Price Forecast: XAU/USD languishes below $4,500 amid US Dollar strength
Gold: Downside risk below 200-DMA – Societe Generale
The stable US-Iran ceasefire has reduced safe-haven demand, allowing gold and silver to react to macro data. Gold tests $4,466 support in a descending channel and silver accelerates lower toward $72.58.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold drops to fresh low since late March on firmer USD and hawkish Fed bets
Gold is getting smoked right now as rising Treasury yields and a stronger dollar tighten financial conditions, with short-term correlations suggesting bullion is no longer trading like a traditional inflation hedge or haven.
The 4-hour chart of XAU/USD indicates that the price even declined below $4,550, the 100 Simple Moving Average (red, 4 hours), and the 200 Simple Moving Average (green, 4 hours). A low was formed at $4,480, and the price is now consolidating losses.