#GOLD TESTS $4,000 AS INFLATION FEARS TRIGGER SELLING
$XAU futures fell 1.10% to $3,980.80/oz, heading for a nearly 4% weekly loss.
Rising oil prices are fueling inflation concerns and expectations of higher interest rates, pressuring the metal.
Saxo Bank warns that short-term speculative selling is outweighing long-term investor demand.
The key level: $4,000. A sustained recovery may require stabilizing energy prices and an end to forced selling.
#XAU #selling #trading
$XAU futures fell 1.10% to $3,980.80/oz, heading for a nearly 4% weekly loss.
Rising oil prices are fueling inflation concerns and expectations of higher interest rates, pressuring the metal.
Saxo Bank warns that short-term speculative selling is outweighing long-term investor demand.
The key level: $4,000. A sustained recovery may require stabilizing energy prices and an end to forced selling.
#XAU #selling #trading