Gold is currently facing strong selling pressure as the US dollar strengthens and traders price in the possibility of further interest rate hikes.
XAU/USD has dropped toward important support zones, making the next few sessions crucial for market direction. �
Reuters +1
🔸 Key Support: $4,050 – $4,000 🔸 Key Resistance: $4,200 – $4,300 🔸 Market Sentiment: Short-term bearish 🔸 Volatility: High
If gold holds above the major support area, buyers could step in for a rebound.
However, a breakdown below support may trigger further downside pressure.
Traders should watch upcoming economic data and Federal Reserve signals closely. �