Gold (XAU/USD) continued its downward trend on Thursday, marking a second consecutive day of losses after encountering resistance at the $4,500 level. The persistent weakness in precious metals has led bears to set their sights on a previous support area around $4,400. This price level now serves as a critical threshold for traders monitoring the currency pair.
The broader market dynamics are contributing to gold's decline, as a stronger USD and shifting investor sentiment reduce demand for safe-haven assets. With the exchange rate reflecting this trend, traders are closely watching for any signs of stabilization or further decline. The outlook for gold remains bearish, with potential implications for other commodities and currencies as market participants reassess their positions.
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Data Source: FX Killer Analysis Team Updated: 2026-01-08 12:44
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.