FX.co ★ XAU/USD (GOLD)

XAU/USD Following President Trump's rejection of Iran's proposal to reduce regional tensions and reopen the Straight of Hormuz, gold fell more than 3% on Monday in a dramatic acceleration that raised oil prices, stoked inflation concerns, and increased expectations for the Fed to take a more aggressive posture on interest rates. After breaking the crucial $4630 zone (upper base/Fibo 61.8% of the $3942/$4697 rise), a new acceleration downward triggered a signal indicating a bearish continuation of the broader downtrend from the $4697 peak on August 25, causing the price of gold to drop to its lowest level in over two months and resulting in the largest daily loss since August 28. Additionally, bears broke below the daily Ichimoku cloud, which was rising and thickening between $4287 and $4383. This caused daily technical studies to become fully bearish, which exacerbates the declining fundamentals. Initial goals at $4120 (Fibo 76.4%) and $4100 (round figure) are under assault from bears; a breach of these targets would reveal psychological $4000 support. The broken $4230 zone returned to resistance, which should ideally limit upticks and provide better levels for the market to return to a bearish

fell straight to $4,200 to start the week. The first step in every strategy I have for London is to determine whether that level breaks, holds, or fakes a break. These three eventualities are the foundation of this gold price forecast because the response entirely alters the trade. The recommendation on Friday was to sell a rebound in London at $4,300–4,316 while aiming for a target of $4,250. That day, gold achieved a new weekly low of less than $4,250. It attempted to rise on Friday but was unable to surpass $4,300, and it ended the week below that threshold. Gold has now plummeted through the objective I established, and the ceiling I marked held for the entire week.