XAUUSD – Sellers Take ControlGoldOANDA:XAUUSDRocky_trade_Gold prices are currently consolidating within a tight price box around 3,350 – 3,360 USD, positioned just below the descending resistance line of a contracting triangle pattern. Multiple attempts to break above 3,360 USD have failed, indicating weak buying pressure and building selling momentum. The current structure suggests the market is setting up for a potential downside breakout. On the news front, U.S. PPI is forecast to rise 0.2% compared to the previous 0.0%, while jobless claims are expected to drop from 226K to 225K. These figures reflect persistent producer inflation and a strong labor market, reinforcing the Fed’s hawkish stance. A stronger USD in this context typically exerts downward pressure on gold, as the metal becomes more expensive for investors holding other currencies. If the price breaks below 3,340 USD, the decline could quickly extend toward 3,310 USD – a key support level. In this scenario, any pullbacks to the 3,355 – 3,360 USD zone may present opportunities for sellers to increase positions, while buyers should remain cautious as the short-term trend continues to favor the downside.