Gold Price Forecast: XAU/USD recovery falters as Oil and yields rise - Mitrade

AI desk brief

Gold (XAU/USD) is trying to stabilise around $4,124 after bouncing from two-month lows near $4,066, but the rebound is still weak as higher oil prices and rising long-end U.S. Treasury yields keep pressure on bullion. The article links the move to escalating Middle East hostilities, which are lifting crude and inflation expectations, supporting further Fed-tightening bets and the dollar.

Technically, XAU/USD remains below a broken downtrend line from late-August highs, with 4-hour RSI still under 50 and MACD slightly negative. Bulls need a move through $4,190 and then $4,240 to reopen $4,300; failure risks a retest of $4,066 and then the $4,000 psychological level.