Gold prices fall in the short term – What's next?Hello everyone, what’s your take on gold?
Today, gold continues to attract short-term selling pressure as USD buying momentum returns and expectations for Fed rate cuts diminish. On the other hand, an overall positive risk sentiment is also seen as another factor weighing on the precious metal.
At the time of writing, gold is trading around the EMA 34 and 89 near 3,336 USD. With no major updates expected, the market is likely to remain steady throughout the day.
From a technical perspective, the bearish trend persists, with prices capped below the trendline. A series of lower highs and lower lows could push XAUUSD to retest deeper levels, potentially reaching the 3,300 USD mark. However, lingering trade uncertainties may limit losses for this safe-haven asset.
This is just my view on the market, not financial advice.
