Hey Traders, in today's trading session we are monitoring XAUUSD for a selling opportunity around the 4,670 zone. GOLD is trading in a downtrend and currently is in a correction phase in which price is approaching the trendline resistance around the 4,670 support and resistance area.
From the macro side, gold remains under pressure as the US Dollar strengthens and Treasury yields stay elevated, driven by the ongoing oil shock and rising inflation expectations. Markets are increasingly pricing a higher-for-longer Fed stance, which reduces the appeal of non-yielding assets like gold.
At the same time, despite persistent geopolitical tensions, safe-haven flows are favoring the USD over gold, creating a divergence that is keeping bullion capped on rallies. This shift is a key factor behind gold’s recent weakness and supports the bearish outlook on corrective moves.
With inflation concerns rising due to energy prices, real yields remain firm, which continues to weigh on gold’s upside potential. As long as price remains below the 4,670 resistance zone, the bearish structure stays intact, and we anticipate continuation toward lower support levels.
Trade safe, Joe.
From the macro side, gold remains under pressure as the US Dollar strengthens and Treasury yields stay elevated, driven by the ongoing oil shock and rising inflation expectations. Markets are increasingly pricing a higher-for-longer Fed stance, which reduces the appeal of non-yielding assets like gold.
At the same time, despite persistent geopolitical tensions, safe-haven flows are favoring the USD over gold, creating a divergence that is keeping bullion capped on rallies. This shift is a key factor behind gold’s recent weakness and supports the bearish outlook on corrective moves.
With inflation concerns rising due to energy prices, real yields remain firm, which continues to weigh on gold’s upside potential. As long as price remains below the 4,670 resistance zone, the bearish structure stays intact, and we anticipate continuation toward lower support levels.
Trade safe, Joe.
Trade closed: target reached
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Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.