Gold and platinum have also found themselves under strong pressure in today's trading session.
Metals and miners are taking a much-needed breather after their historic runs in 2025.
The gold market has gapped lower on Friday, as traders reacted to interest rates jumping in the United States. The negative correlation continues in this market.
Gold managed to fall below the 4590 support and managed to add more of a boost drop ahead of the support zone 4500-10. As we see over the chart, and as long as the market remains above 4500-10, a chance for another rebound towards the 4850-90 zone could hit the market.
Gold tumbles nearly 2% as stronger US Dollar, rising yields weigh on bullion
Gold prices tumble as the U.S. dollar tops 99 and Treasury yields hit yearly highs, crushing demand for non-yielding assets.
Gold Price Forecast: XAU/USD remains under bearish pressure near $4,550
Gold continued its decline on Friday, falling to 4,619 USD per ounce. The week is set to close with losses of around 1%, as mounting US inflation puts pressure on the market.
Hotter US CPI and the Trump-Xi summit weighed on precious metals as the ceasefire holds. Gold printed a decisive breakdown below $4,600 with RSI under 40 while silver broke its ascending channel targeting $76.15.
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