Gold Price Forecast: Death Cross Looms, XAU/USD Eyes $3,950 Support
Gold (XAU/USD) falls back near $4,000 on Friday, ending a brief rebound, as traders eye a potential death cross and key support at $3,950.
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Gold prices have turned lower again on Friday, trading near $4,000 after a short-lived rebound on Wednesday. The precious metal is on track for a fourth consecutive weekly decline.
Technical analysis highlights a looming 'death cross' pattern, where the 50-day moving average crosses below the 200-day moving average, often seen as a bearish signal. Traders are now watching the $3,950 support level as a critical threshold that could determine further downside.
Source: FXStreet Forex News