Metals

Gold's price action has changed notably during the week. Over the last four trading sessions, the precious metal has advanced only slightly more than 1%, highlighting a clear slowdown around the $4,600 per ounce area.

As trading comes to a close this week, one of the most relevant themes across financial markets continues to be the strength displayed by gold in the short term. Over the last three trading sessions, the precious metal has gained nearly 7%, highlighting the return of a meaningful bullish bias within the market.

As the week unfolds, gold dynamics have been defined by prolonged consolidation. Over the last 5 sessions, XAU/USD has barely registered an average variation of 1.00%, lacking clear direction and cementing a strong neutral bias.

Once again, gold is showing signs of short-term weakness. Over the last 4 trading sessions, XAU/USD has accumulated a decline of nearly -2.4%, highlighting a relevant selling bias ahead of the Federal Reserve decision.

The last two trading sessions have been important for gold. The precious metal has gained more than 3.5% during this period, showing renewed short-term bullish momentum.

Although gold has gained close to 1.5% over the last 2 trading sessions, this move does not yet appear to confirm a dominant buying bias. For now, the metal continues to show a more neutral behavior, with demand strength still failing to recover fully after the release of PPI inflation data in the United States.

Gold is starting to face difficult trading sessions. Over the last 2 trading sessions, XAU/USD has shown a renewed weakness bias, with a decline of just over 3.00%.

As the trading week approaches its close, gold is showing a relevant short-term recovery. XAU/USD is up more than 2.00% and is trading back above the 4,000 dollars per ounce area, supported by a weaker US dollar after the NFP release.

As the trading week moves forward, one of the most relevant developments across financial markets has been the continued weakness in gold. The metal has now posted two strong bearish sessions, with a short-term decline of just over 5.00%, once again highlighting a clear selling bias in XAU/USD.

The trading week continues, and so far, gold is once again showing clear short-term weakness. During the session, the price is down more than 2.00%, while selling pressure has returned shortly after today’s Federal Reserve decision and comments.

The trading week is coming to an end, and although gold has tried to recover in the short term, the move still looks insufficient against the selling pressure that has remained in place over the past few weeks. Over the last five trading sessions, gold is still down close to -3.00%.

After bouncing back some $300 off its lows yesterday, gold still closed the session lower by 1.9%, meaning it extended the losing run to 9 consecutive sessions. But today it was holding in the positive late in the day in Europe, with equity indices and crude oil also in a holding pattern. Will gold be able to end its losing run and climb back above $4500?