GOLD → Pressure from sellers. The decline will continue

XAUUSD is falling in Asian and European trading, hitting new lows and confirming the downward trend. The reason is the de-escalation of the tariff war...

The price of gold fell to $3,250 due to increased risk appetite after positive news from US-China trade talks. Investors are hoping for a quick agreement, reducing demand for gold as a safe-haven asset.
However, tensions between India and Pakistan, as well as Russia and Ukraine, continue to support interest in gold and prevent further declines. Market participants are also watching US negotiations with Japan and the EU, where the threat of new tariffs remains.

Resistance levels: 3250, 2369
Support levels: 3222, 3193, 3167

GOLD is testing support and forming a false breakdown relative to 3222. There is a possibility of a correction to 0.5 - 0.7 Fibonacci. However, if there is no pullback and the price begins to break support, gold will continue its decline to 3190 - 3170

Best regards, R. Linda!