Gold Retreats as Strong USD Adds PressureGoldOANDA:XAUUSDDomicChainaHello everyone, Looking at the Gold chart on the H4 timeframe, the market appears to be entering a clearer corrective phase after the strong rally seen earlier. Price is currently trading around 5,016 USD, significantly lower than the recent peak and now positioned below two key moving averages, suggesting that short-term momentum has shifted to the downside. From a technical perspective, after failing to hold above the 5,200 area, gold has started forming a sequence of lower highs over recent sessions. This pattern indicates that selling pressure is gradually gaining control, particularly as price has fallen back below the moving-average zone. This area previously acted as support but is now turning into short-term resistance around 5,120–5,150. From a macro standpoint, the recent pullback in gold has coincided with continued strength in the US Dollar Index, which makes the metal more expensive for investors holding other currencies. At the same time, yields on the U.S. 10-Year Treasury remain elevated, while expectations that the Federal Reserve may maintain a restrictive monetary stance for longer are also adding pressure to precious metals. Some recent economic data has shown U.S. consumer spending rising slightly less than expected, while core inflation remains relatively stable. These factors reinforce the view that the Fed may not rush to loosen monetary policy, which in turn supports the U.S. dollar and reduces the short-term appeal of gold. Based on the current structure, my base scenario is that gold could continue moving toward the psychological support area around 5,000 USD. This level may act as a key zone where the market searches for new buying interest. If demand emerges there, gold could form a technical rebound toward the 5,120–5,150 region, where selling pressure has recently been concentrated. Overall, the current decline may be viewed as a technical correction following a strong rally, while the market continues to closely monitor the direction of the U.S. dollar and expectations surrounding Fed policy to determine the next trend. What do you think — will the 5,000 level attract buyers, or could gold extend its correction further before stabilizing?