Gold is under pressure, and the reason is macro.
A stronger dollar, oil back above $100, and rising inflation fears after the failure of the US-Iran talks are changing the tone fast.
This is the kind of setup that can weigh on gold short term.
Why? Because when inflation risk rises through energy and the dollar strengthens, markets start pricing fewer rate cuts, and that usually reduces immediate upside for gold.
So yes, gold may still look strong in the bigger picture.
But right now, macro pressure is back on the table.
Short term pressure. Long term signal still alive.