GOLD - A pullback toward the liquidity zone before the drop Gold vs US DollarICMARKETS:XAUUSDRLindaXAUUSD remains in a corrective phase and may continue its recovery toward the liquidity zone The metal is facing strong pressure from a combination of three factors: the Fed's hawkish shift (with markets pricing in an 87% probability of a December rate hike), record ETF outflows ($8.1 billion over the past three months), and a decline in the geopolitical risk premium following the signing of the U.S.-Iran memorandum. Key catalysts for the coming week: - Core PCE data (the Fed's preferred inflation indicator) on Thursday - Developments in U.S.-Iran negotiations following the cancellation of the Geneva meeting - Comments from Federal Reserve officials and any signals regarding the timing of a potential rate hike Resistance levels: 4181.5, 4210, 4220 Support levels: 4123, 4052 Gold remains in a corrective phase. The market may continue its move toward the liquidity zone. A short squeeze into the 4210-4220 resistance area could shift the imbalance back in favor of sellers and trigger another decline within the broader bearish trend. The fundamental and geopolitical backdrop remains unstable. Gold continues to face pressure from the global bearish trend and a strong U.S. dollar Best regards, R. Linda