Gold Price Forecast: XAU/USD hits lows near $4,110 as yields, Oil pick up - Mitrade

AI desk brief

Gold (XAU/USD) is under pressure for a fourth straight session as a modest rise in US Treasury yields and higher oil prices support the dollar and weigh on safe-haven demand. Spot is trading just below $4,120 after a nearly 1.3% pullback over the last three sessions, with intraday support at $4,100 and the next downside level at $4,070, then $4,000 if selling accelerates.

On the upside, repeated caps sit at $4,190-$4,200, with the October range high around $4,230. The broader backdrop remains mixed: higher oil and unresolved US-Iran tensions add geopolitical support, but firmer yields and a mild USD rebound are keeping recovery attempts vulnerable.