Short recovery at 4804 - maintaining the downtrend.GoldOANDA:XAUUSDNova-ScalperGOLDEN INFORMATION: Gold price (XAU/USD) remains under selling pressure near $4,640 during the early Asian session on Friday. The precious metal extends the decline as soaring crude oil and energy prices, driven by the escalating US-Israeli war with Iran, reignite inflation fears. Traders will closely monitor the situation in the Middle East. Gold took a breather after the US Federal Reserve (Fed) left interest rates unchanged on Wednesday and expressed concern about the impact of rising oil prices on inflation. Fed Chair Jerome Powell said that the possibility of a rate hike has come up in policy committee discussions. Hawkish remarks from Fed officials lift the US Dollar (USD) and weigh on the USD-denominated commodity price. ⭐️Personal comments NOVA: Gold's sharp downward trend - with a technical rebound around 4804 and continued correction. ⭐️SET UP GOLD PRICE 🔥SELL GOLD zone: 4804 - 4806 SL 4811 TP1: $4777 TP2: $4750 TP3: $4722 🔥BUY GOLD zone: 4510- 4508 SL 4503 TP1: $4533 TP2: $4570 TP3: $4592 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account