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Gold Price Forecast: XAU/USD pulls back amid cooling safe-haven demand
XAU/USD spun in a flat circle on Monday, settling close to 5,000 in a relatively contained session following last week's sharp decline from the highs. Gold has pulled back meaningfully from its spike high near 5,600, reached at the height of the Strait of Hormuz disruption, with the 5,000 round number now acting as the immediate psychological support. Monday's small-bodied candle at this level suggests the market is in a wait-and-see mode rather than committing to further selling. Spot Gold's retreat from the 5,600 spike high reflects a gradual cooling of the fear premium that drove prices to record levels when the ... (full story)
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