FX.co ★ Death-X-PK | XAU/USD, GOLD

XAUUSD M-30 Time Frame Update Gold (XAU/USD) recovers quickly from the mid-$4,600s, a four-day low reached during the Asian session on Friday, but lacks follow-through. A shift in risk sentiment, as shown by a sea of red across global equities markets, boosts demand for conventional safe-haven assets and works as a tailwind for the commodities. Furthermore, speculations for additional interest rate reduction by the US Federal Reserve (Fed) in 2026, bolstered by indicators of weakening in the US labor market, appear to be another factor supporting the non-yielding yellow metal. Meanwhile, the White House stated that negotiation is US President Donald Trumps preferred preference for dealing with Iran but warned that military options are available. This keeps geopolitical uncertainties in play and strengthens golds position as a safe haven. However, forecasts that incoming Fed Chair Kevin Warsh will be less dovish help the US dollar (USD) maintain its recent rebound advances from a four-year low and limit the upside for the precious metal. This makes it smart to wait for substantial follow-through buying before putting further bullish wagers on the XAU/USD pair. Gold fell to $4,680 as growing margin needs, equities market stress, and reducing geopolitical tensions weighed on prices, but strong technical support near $4,400, as well as persistent uncertainty about Fed policy and USD strength, could support a bullish rebound. The daily chart for spot gold indicates a rapid dip from $5,600 to $4,400, followed by a rebound. This comeback is owing to solid support near $4,400, which is formed by the intersection of the 50-day SMA and the ascending expanding wedge patterns support line. A robust comeback above $5,050 indicates that gold will continue to rise. However, a break below $4,400 will result in another plunge to lower levels.