Gold against the US Dollar (Gold/USD) is facing selling pressure during today’s trading session, moving in a bearish direction near the key pivot level at 4700.
If the downward momentum continues and the price breaks below this level, it is expected to move toward 4550 as the first downside target, followed by 4500 as the next support level.
However, if the trend reverses and trading stabilizes above 4700, gold may witness a corrective rebound toward 4750 as an initial target, followed by 4800.
Overall, the bearish scenario remains the most likely as long as prices fail to hold firmly above the 4700 level, with selling pressure dominating intraday movements.
Discover why over 25.000 live trading accounts trust Highness, and join the community of successful traders today.
KU 