Gold Price Forecast: XAU/USD bounces up to $4,400 with the bearish trend intact - mitrade.com

AI desk brief

Gold/XAU/USD bounced back toward $4,400 after testing $4,345, but the broader trend remains bearish after more than $100 of losses over the prior three sessions. Near-term direction is tied to Friday’s US CPI and next week’s expected Fed hike: a hot print would likely support the USD and keep gold under pressure, while a softer CPI could revive dovish repricing and lift bullion.

Technically, price is still capped below the 200-day SMA and the article flags a bearish head-and-shoulders structure. Key support sits at $4,311-$4,282, then $4,223; resistance is $4,443, followed by $4,500 and the 200-day SMA at $4,537.