GOLD Consolidation remains bearish momentumGold vs US DollarICMARKETS:XAUUSDMR_GOLD_12Gold is repeatedly failing to sustain higher levels, and the 1H chart is showing a clear shift from bullish structure toward bearish pressure after rejecting the 4,620–4,640 resistance/supply area, price broke below the rising trend structure and then sharply displaced lower. The latest fundamental backdrop is also supporting the downside. Hawkish Federal Reserve expectations have increased, particularly after Fed Chair Kevin Warsh’s recent comments, while U.S. Treasury yields have remained elevated. Higher yields and the possibility of tighter U.S. monetary policy increase the opportunity cost of holding non-yielding gold. At the same time, renewed U.S.–Iran/Middle East tensions have pushed oil prices higher, increasing inflation concerns and making traders more cautious about expecting easier Fed policy. Markets are now closely watching upcoming U.S. labor-market data because stronger employment data could further strengthen the case for higher rates, adding another layer of pressure on XAU/USD. As shown on the chart, price is repeatedly attempting to recover toward the upper side of the current range but is failing to establish a strong bullish breakout. If 4,450–4,488 continues to reject price, another move toward 4,392 and potentially 4,350 becomes technically possible. However, if buyers reclaim 4,488–4,500 with strong momentum, the bearish scenario would weaken and Gold could attempt a deeper recovery. Hope you found this analysis helpful. 👍 Like, Comment & Follow for more updates. Trade safe.