Gold retreated from its recent three-week highs on Friday as the US Dollar found firmer footing. The XAU/USD pair was trading around $4,100, surrendering early gains to fall nearly 1.5% after touching a low near $4,032 earlier in the session. This pullback reflects a shift in market sentiment as bulls struggled to maintain control.
The precious metal's decline is primarily attributed to a steadying US Dollar, which drew support from a cautious outlook on interest rate cuts from the Federal Reserve. This dynamic typically weighs on gold, which becomes more expensive for holders of other currencies when the USD strengthens. Mixed signals across broader markets further contributed to the selling pressure.
Traders are now closely watching key technical levels, with the day's low around $4,032 acting as immediate support. The failure to hold onto higher ground suggests a potential period of consolidation for the currency pair as the market awaits clearer directional catalysts from upcoming economic data and central bank commentary.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-14 17:37
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.