GOLD - Weak fundamentals and a bear market Gold vs US DollarICMARKETS:XAUUSDRLindaXAUUSD remains under selling pressure and continues to decline. Another distribution phase is developing after a short-term consolidation, with the market moving toward the 4,330–4,300 liquidity zone The Dollar Index looks strong after the Fed adopted a hawkish stance and is bouncing higher, putting further pressure on gold. The medium-term outlook for gold remains bearish. Gold will remain sensitive to U.S. inflation and labor market data. Central bank purchases and geopolitical risks continue to provide support, but a strong dollar and expectations for higher interest rates are limiting the upside potential. Any recovery attempts could prove short-lived. The key event of the week is Friday’s employment report. Drivers: hawkish Fed signals, conflict escalation, stronger dollar, rising yields Resistance levels: 4,400, 4,440, 4,472 Support levels: 4,330, 4,300 A breakout below the support of the intermediate consolidation is developing. Gold is moving toward the 4,330 liquidity zone. A long squeeze followed by profit-taking could trigger a bounce toward 4,400 before the decline resumes Best regards, R. Linda.