• Gold falls for a fourth consecutive day near $4,550 as the US Dollar strengthens on the back of solid US economic data.
• Strong US inflation and Retail Sales figures reinforce expectations of a more hawkish Federal Reserve.
• XAU/USD maintains a bearish short-term bias below its 100-period and 200-period SMAs.

Gold (XAU/USD) falls for a fourth straight day, dropping near $4,550 as the US Dollar (USD) strengthens. The Greenback is supported by rising expectations of a hawkish Federal Reserve (Fed) following strong US inflation and Retail Sales data. Meanwhile, ongoing tensions between the US and Iran, particularly around the Strait of Hormuz, keep Oil prices elevated and add to market uncertainty.

Technical Analysis: Gold maintains a bearish momentum

In the four-hour chart, XAU/USD trades at $4,553.16, extending a bearish near-term bias as price holds beneath both the 100-period simple moving average (SMA) at $4,655.41 and the 200-period SMA at $4,699.41, as well as below the broader downward resistance trend line near $4,751. The Relative Strength Index (RSI) has slipped to oversold territory around 27, hinting that while downside pressure dominates for now, the pace of the recent slide could slow if sellers start to book profits.

On the topside, initial resistance is seen at the 100-period SMA at $4,655.41, followed by the 200-period SMA at $4,699.41 and the descending trend-line region around $4,751, with higher hurdles aligning at the horizontal barriers around $4,890 and $5,044. On the downside, the first support comes at the descending trend line at $4,479. The next notable support sits at the horizontal level of $4,351, ahead of $4,306 and then $4,099, where buyers may attempt to stabilize the metal after the latest breakdown.

(The technical analysis of this story was written with the help of an AI tool.)