On the H1 chart, the market has broken below the 4,478 USD level and moved lower towards 4,422 USD. A corrective rebound towards 4,478 USD as a retest from below remains possible before another decline towards 4,250 USD. A subsequent recovery towards 4,390 USD may follow. The Stochastic oscillator supports this scenario, with the signal line below the 80 level and pointing downwards towards 20, indicating persistent downside pressure.
Conclusion
Gold remains vulnerable to further losses as elevated energy prices, geopolitical tensions, and expectations of tighter monetary policy continue to weigh on sentiment.