🟡 Gold Price Forecast: XAU/USD eyes key $4,500 support
Gold (XAU/USD) remains under bearish pressure as price trades below the 100-hour SMA near $4,625.
Traders are closely watching the key $4,500 support zone, while momentum indicators suggest upside strength is weakening.
A break below $4,480 could trigger further downside pressure, while bulls need a strong move above $4,625 to regain momentum.
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Mark Douglas, author of "Trading in the Zone" and "The Disciplined Trader," relates many of the challenges of trading to the inner psychology and emotions of the individual trader. The main psychological challenges are:
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What happened yesterday
In the US-Iran war, Tehran has submitted a new response to the latest US proposal via Pakistan, though mediators warn the ceasefire is "on life support". Brent Crude slipped around 2% to USD109.8/bbl in early Asian trading after President Trump said he had paused a planned large‑scale strike on Iran to allow time for negotiations aimed at ending the war in the Middle East. Yet Trump insists the US remains ready to act if talks fail. At the same time, Washington extended a sanctions waiver on Russian seaborne crude, helping stabilise physical supply, while record US reserve draws have pushed inventor
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🟡 Gold Price Forecast: XAU/USD remains under bearish pressure
Gold (XAU/USD) continues to trade with a bearish bias after last week’s sharp decline of nearly 4%.
Although momentum is slowing slightly, buyers are still struggling to regain control as price remains below key resistance zones.
Support is seen near $4,500, while a break lower could expose the $4,350 area.
On the upside, resistance remains around $4,640 and $4,770 as sellers continue to dominate the short-term trend.
⚠️ Not financial advice. Trading involves risk.