Gold Price Forecast Signals Potential Drop as Market Stabilizes

Gold XAU USD is seeing a correction after facing rejection at the $3,440 resistance area last week. While the upward structure remains intact, easing concerns that the Iran Israel conflict might escalate into a broader war have diminished the demand for safe havens like gold.

The recent market movements suggest that buyers may take a step back, leading to a potential drop towards $3,400 as support levels tighten. Traders should analyze market signals closely to anticipate further fluctuations.

Overall, as the market stabilizes, gold’s performance requires careful monitoring to identify potential buying opportunities as well as risks of price declines.