Gold remains pressured as front-end repricing bitesGold / U.S. DollarFOREXCOM:XAUUSDFOREXcomGold remains pressured as traders continue to price the risk of the Fed having to resume rate hikes by the end of this year, providing a powerful headwind for non-yielding assets. Correlation analysis shows a perfect five-day inverse relationship with one-year Fed pricing (-1.00), while a similarly strong inverse correlation with US two-year yields (-0.97) suggests gold is currently trading as a front-end rates proxy, with higher yields and a stronger dollar keeping sellers firmly in control. As such, unless you see those dynamics shifting dramatically in the near term, the fundamental backdrop favours selling into strength. Should the price push back towards $4,352 resistance, which coincides with the swing low set in late March, shorts could be set with a tight stop above the level, targeting a retest of $4,270, the lows set on Monday. If that level were to give way, $4,260 was a former breakout level back in late 2025 that may still warrant attention, but apart from that there's little in the way of visible support until $4,100 where the price bottomed in March. The oscillators continue to favour short setups over longs, with RSI (14) setting lower highs beneath 50 while not yet being oversold on the H4 timeframe. MACD also remains negative, having previously crossed below the signal line. While it's converging on the signal line again, it has yet to cross back above, keeping the bearish bias in place. Good luck! DS