Will gold keep sliding toward $4,000? Here’s our trade of the week.
Gold tested dynamic resistance after last week’s range-bound price action and has moved lower for two sessions in a row.
Its close link to AI-driven tech stocks, elevated US bond yields, and this rejection bring us to our trade: going short XAUUSD, targeting $4,000. The catalyst is next week’s Fed rate decision.
With a light calendar this week, price action may stay contained until then.
Will gold hit $4,000?