Gold remains under pressure after failing to sustain its recent recovery, with sellers continuing to dictate the short-term direction. The current price structure suggests the market could still be unfolding a corrective phase before a larger trend emerges, making the next few sessions particularly important.

With expectations surrounding Federal Reserve policy, U.S. dollar movements, bond yields, and geopolitical developments all influencing sentiment, volatility is likely to remain elevated. We'll be watching closely for price action to reveal whether this decline is nearing exhaustion or whether another leg lower is beginning.

Disclosure: We are part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in our analysis.

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