Gold Price Forecast: XAU/USD holds below $4,400 with Oil, yields surging - Mitrade

AI desk brief

XAU/USD edged lower after failing to hold above $4,400, with the upside capped by Tuesday/Wednesday highs near $4,440, last week’s highs around $4,500, and the 200-day SMA at $4,538.25. Near term, the pair is being pressured by surging global yields and oil approaching $100, while the article notes that a weak dollar is still keeping gold inside its recent 10-day range.

TD Securities remains constructive, saying the precious-metals backdrop is supported by renewed dollar-debasement themes, elevated central-bank buying and fresh ETF accumulation. Even if the Fed turns more hawkish, they see that as likely to delay the next leg higher rather than trigger material downside; on the chart, bears are focused on the mid-$4,300s and the $4,311/$4,282 neckline of a bearish head-and-shoulders pattern.