XAUUSD: Is Gold Cooling Down After the $4,300 Test?

Gold recently pushed above the $4,300 area as markets reacted to a weaker U.S. dollar, lower Treasury yields and easing inflation fears linked to falling oil prices. Middle East diplomacy and hopes around the Strait of Hormuz also helped reduce energy-risk pressure, which supported the idea that the Fed may not need to stay as aggressive.

However, the macro picture is not fully one-sided. U.S. Treasury yields have started to edge higher again, and markets are still watching the next U.S. labor data and inflation reports. If yields and the dollar recover, gold may struggle to extend the rally immediately.

RSI is around 48, back near neutral after the previous bullish impulse. Stoch RSI is near the lower zone, suggesting gold may be approaching a short-term bounce area, but MACD has turned negative, confirming that momentum has weakened after the $4,300 test.

⚠️ Not financial advice.