Gold Price Short-term Outlook: XAU/USD Plunges 17% – Key Support Break Sparks Risk

From forex.com

Gold’s sharp decline has gathered pace, driving prices lower after a decisive break beneath key technical support. The move marks a clear shift in near-term price action, with the selloff extending into a major support zone that could determine the next phase of the trend. Momentum has weakened notably on both daily and weekly charts, underscoring the pressure on the market as it approaches this inflection point. Whether buyers step in at this level or selling continues to accelerate will likely dictate the path for gold in the sessions ahead. Battle lines drawn on the XAU/USD short-term technical charts. Technical ... (full story)