📊 Gold Traders Split on Direction Near Yearly Lows
🔹 Gold closed near $4,152/oz, pressured by the Federal Reserve's hawkish stance and expectations of higher interest rates.
🔹 Bears are targeting a move toward $4,000, citing continued selling pressure and a stronger U.S. Dollar.
🔹 Bulls believe current levels could be a short trap, with support between $4,074–$4,112 potentially triggering a rebound toward $4,400.
🔹 Market focus now shifts to upcoming Core PCE Inflation data and developments surrounding the Strait of Hormuz, both of which could drive volatility.
📌 Key Levels to Watch:
✅ Support: $4,074 – $4,112
✅ Resistance: $4,319
⚠️ Expect increased volatility as traders await fresh economic and geopolitical catalysts. #XAUUSD #Gold #Forex #Trading #MarketUpdate
farah khan
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