Gold (XAU/USD) is experiencing downward pressure as it continues to pull back for a second consecutive day, trading around $4,425 and down nearly 0.60%. The yellow metal's recent bullish momentum has waned, following a failed attempt to breach the significant psychological barrier of $4,500, which has prompted traders to reassess their positions amid a stronger US Dollar.
The firmer USD is influencing the exchange rate dynamics, leading to decreased demand for gold as a safe-haven asset. As market participants digest this shift, the implications for XAU/USD could involve further declines if the dollar maintains its strength against major currencies, including the EUR. Investors will be closely watching key technical levels and market sentiment in the coming days.
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Data Source: FX Killer Analysis Team Updated: 2026-01-08 15:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.