Gold (XAUUSD) Price Forecast: Gold Price Faces More Selling as Rate Hikes Delay Breakout - FXEmpire

AI desk brief

Gold fell 0.54% to $4,354.74 despite weekend strikes on Riyadh, as the market continued to trade the rate story rather than the war premium. Minneapolis Fed President Kashkari’s hawkish inflation comments reinforced the view that policy stays restrictive, while the chart remains under pressure below the $4,384.59/$4,405.59 resistance band and the 200-day moving average at $4,541.86.

The article says sellers still control the trend after a lower high at $4,510.93 and break to $4,235.17, with support at $4,319.61, $4,295.83 and $4,282.62. Physical demand is mixed: India has stepped back on expectations of lower prices, while China is reportedly buying dips and holding premiums steady, providing a floor but not enough to reverse the broader downtrend.