XAUUSD: Breaking the $4,960 Support Triggers Medium-Term Downtrend with Key Technical and Fundamental Insights
Over the past three trading days, XAUUSD gold prices experienced significant volatility, notably closing sharply lower at 4617.54 USD yesterday compared to 4818.42 USD the previous day, a nearly 4% drop. This steep decline was driven by breaking the crucial $4,960 support level, initiating a medium-term bearish trend as outlined in recent market news. Fed Chair Powell’s remarks and impending economic data releases have increased cautious sentiment. For the average investor, this means gold’s safe-haven appeal is under pressure temporarily, but volatility may present strategic trading opportunities.

