FX.co ★ XAU/USD, GOLD

Once again, the price of GOLD came under significant pressure at the start of this trading week. All the gains made last Friday have already been wiped out, and the price has once again managed to test the round support level of 4000. From there we are currently seeing a small bounce. Further prospects are unclear. If the bounce can develop into a new upward wave, we can still count on a move toward the descending resistance around 4185, where selling will be of interest. However, if they keep pressing the current 4000 support level, we risk a downside breakout and a further wave of decline toward 3750.