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Gold Under Pressure as Dollar Strength and Rate-Hike Expectations Dominate

Gold (XAU/USD) started the week on a weak footing, giving back early session gains and slipping to its lowest level since March. The precious metal remains trapped under heavy selling pressure as investors favor the U.S. Dollar amid rising geopolitical tensions and expectations of tighter monetary policy.

Fresh developments in the Middle East have intensified concerns over global inflation. Escalating military exchanges between Israel and Iran have fueled a sharp rise in crude oil prices, increasing fears that energy-driven inflation could remain elevated for longer. As a result, traders are reassessing the likelihood of central banks maintaining a hawkish stance, reducing the appeal of non-yielding assets such as gold.

At the same time, Friday's stronger-than-expected U.S. employment report further strengthened the bullish case for the Dollar. The U.S. economy added 172,000 jobs in May, significantly above market expectations, while the unemployment rate held steady. The resilient labor market has reinforced expectations that the Federal Reserve may keep interest rates elevated and could even tighten policy further if inflation remains persistent.

The combination of a stronger Dollar, higher rate expectations, and risk-off flows into the Greenback continues to weigh on gold prices. From a technical perspective, the metal has broken below its 200-day Simple Moving Average, a development that could encourage additional selling pressure if downside momentum persists.

With no major U.S. economic releases scheduled today, market participants will closely monitor geopolitical headlines for short-term direction. Later this week, attention will shift to key U.S. inflation data, including CPI and PPI figures, as well as policy decisions from the Bank of Canada and the European Central Bank.

XAUTUSDT 4H Analysis: Sellers Maintain Market Control

On the 4-hour chart, XAUTUSDT remains firmly within a bearish trend structure. The market continues to print lower highs and lower lows, confirming that sellers retain control of price action.

Price is currently testing support around the 4,300 region. While a temporary rebound cannot be ruled out, the broader outlook remains negative unless buyers can reclaim the key resistance zone between 4,400 and 4,500.

A decisive break below 4,300 could trigger another wave of selling toward 4,200, with the next major support area located near 4,155. Conversely, any bullish recovery is likely to face resistance around 4,360–4,400, where sellers may look to re-enter the market.

Momentum indicators continue to favor the downside, reflecting weak buying interest and a lack of bullish conviction.

Technical Bias: Bearish

Support Levels: 4,300 | 4,200 | 4,155

Resistance Levels: 4,400 | 4,500 | 4,560

Final View

The overall structure remains bearish while price trades below 4,400. Unless bulls regain that level, downside risks remain elevated, with 4,200 and 4,155 acting as the next key targets for sellers.

$XAUT ‌