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Spot Gold is experiencing moderate selling pressure for the third consecutive day, trading near $4,680. The US Dollar (USD) remains strong against major currencies, pushing USD-based assets to weekly highs. Analysts attribute the decline in gold prices to a resilient USD and mixed economic data from the US, which has reduced demand for the safe-haven metal. The USD's firmness is driven by expectations of tighter monetary policy and improved risk appetite in equities. For traders, this dynamic highlights the inverse relationship between gold and the USD, with technical levels like $4,650 becoming critical for near-term support. Market participants are advised to monitor Fed statements and inflation data for clues on USD direction. If the USD continues to strengthen, gold may face further downward pressure, but a reversal in USD momentum could trigger a rebound in XAU/USD.
