Gold (XAUUSD) is currently showing an overall bearish bias in the short to medium term.
Gold has recently experienced a strong decline, with the weekly loss reaching around 3.4% by October 2, while the price was trading around $4,140.
September also saw a decline of around 6%, and the current price action remains bearish below key resistance levels.
A stronger US Dollar and elevated Treasury yields are putting additional pressure on Gold.
The $4,100–$4,150 area is an important zone. A confirmed break below this area could strengthen the bearish continuation.
However, this does not mean Gold will sell directly from every level.
#GOLD_UPDATE #XAU
Gold has recently experienced a strong decline, with the weekly loss reaching around 3.4% by October 2, while the price was trading around $4,140.
September also saw a decline of around 6%, and the current price action remains bearish below key resistance levels.
A stronger US Dollar and elevated Treasury yields are putting additional pressure on Gold.
The $4,100–$4,150 area is an important zone. A confirmed break below this area could strengthen the bearish continuation.
However, this does not mean Gold will sell directly from every level.
#GOLD_UPDATE #XAU