🚨 Gold Selloff Deepens: XAU/USD Breaks Key Support as Oil Surge Hits Bulls
Gold prices came under heavy pressure as XAU/USD dropped below major moving averages, while rising crude oil prices fueled inflation fears and reduced hopes for rate cuts. Bearish momentum is accelerating across short-term charts.
• Technical Breakdown – Gold slipped below both the 100-MA and 200-MA (4H chart), signaling stronger downside pressure.
• Key Support in Focus – Analysts highlight $4601 as the next major downside level if selling continues.
• Oil Driving Pressure – Higher oil prices are increasing inflation concerns, which may keep interest rates higher for longer — a negative setup for gold.
📊 Insight: Gold usually benefits from uncertainty, but when oil pushes inflation higher, traders fear tighter policy. That can strengthen the dollar and pressure bullion short term.
#Gold #markets #trading #Oil #Inflation $XAU $XAUT $PAXG
