Gold Faces Fed PressureGOLD (US$/OZ)TVC:GOLDYES_GroupDuring the week’s close, gold prices traded with high volatility and declined to around 4,155.40 before the market closed. The downside pressure came after the Federal Reserve (Fed) decided to keep interest rates unchanged, while the latest Dot Plot continued to indicate the possibility of one additional rate hike this year. This supported both the U.S. dollar and U.S. Treasury yields at elevated levels, which remains a negative factor for gold as a non-yielding asset. However, gold prices continued to receive support from global economic uncertainty and safe-haven demand from some investors. Although geopolitical concerns eased following the signing of a Memorandum of Understanding (MOU) between the United States and Iran, which improved overall market sentiment and encouraged a more risk-on environment, demand for safe assets has not completely disappeared. In the short term, gold has the potential to stage a technical rebound after experiencing persistent selling pressure in recent weeks. Accumulation by medium-term investors is helping to limit downside risks, while price movements remain largely dependent on the direction of the U.S. dollar and U.S. Treasury yields. Overall, gold is expected to trade in a Sideway to Sideway Up pattern if pressure from the U.S. dollar begins to ease. Meanwhile, ongoing economic and geopolitical uncertainties could continue to support demand for gold as a safe-haven asset. Outlook for June 22–26, 2026 Technical Analysis Gold prices may rebound from a key support area and regain footing above the short-term descending trendline. However, prices are still trading within a larger Descending Channel. The MACD is beginning to lose bearish momentum and may generate a bullish crossover, while the RSI has recovered from oversold territory, suggesting that selling pressure is weakening in the near term. In addition, price is moving toward the Order Block (OB) and Fair Value Gap (FVG) zone around 4,280–4,320, an area where substantial selling interest is expected. As a result, any short-term recovery is likely to face significant resistance. Main Scenario If gold can hold above the 4,200–4,215 area, it may rebound toward the FVG and Order Block zone at 4,280–4,320, which represents a key resistance area for this week. A successful breakout above this region could pave the way for a further recovery toward 4,380. However, if prices fail to overcome the 4,280–4,320 resistance zone, selling pressure may re-emerge and drive prices back toward the 4,200 support area. A break below this level could trigger further downside toward 4,150 and 4,050, respectively. Key Events to Watch -Remarks from Fed officials (Waller, Williams, Goolsbee, and Kashkari) -Core PCE Price Index (June 25) -U.S. Q1 GDP data -U.S. Manufacturing and Services PMI -Direction of the U.S. Dollar Index (DXY) and U.S. Treasury yields -Developments in U.S.–Iran relations Resistance Levels 4,280 4,320 4,350 Support Levels 4,200 4,150 4,050