XAUUSD: SELL 4059.00, SL 4090.00, TP 3966.00
Gold starts the week under pressure as higher oil prices reinforce inflation concerns. Rising US Treasury yields and a stronger US dollar are reducing the appeal of the non-yielding metal. Market attention remains focused on upcoming US inflation data and comments from Federal Reserve officials regarding the future direction of monetary policy.
Geopolitical tensions continue to support demand for defensive assets, but this factor is currently being outweighed by expectations that the Federal Reserve may maintain a tighter policy stance. If US Treasury yields remain elevated and the dollar stays supported, the baseline scenario allows for a further decline in XAUUSD under the current fundamental backdrop.
Trading idea: SELL 4059.00, SL 4090.00, TP 3966.00
