Gold Price Forecast: XAU/USD approaches $4,300 after rejection at the $4,400 area - Mitrade

AI desk brief

Gold (XAU/USD) is under pressure for a second straight session, slipping below $4,320 after its rebound stalled at the $4,400 area. The move comes as the DXY holds above 100.00 on rising bets that the Fed may hike again, reinforcing a bearish near-term setup for bullion.

Technically, the pair’s rejection at $4,400 has revived the risk of a break below the $4,230 neckline of an extended head-and-shoulders pattern. A confirmed drop there would expose the $4,000 psychological level, while bulls need to reclaim $4,399 and then $4,510 to neutralize the bearish structure and reopen the path toward the August peak near $4,700.