Gold Price Analysis – Gold Continues to Hover Around a Major Level
FX Empire·2026-05-04 22:25
Interest Rates and the Gold MarketAs they climb, typically it’s bad for gold, but we’re just in this area of malaise right now that I think will continue to be somewhat supported just because of the psychology. But if we do break down below here, I could see the $4400 level being targeted, just above the 200-day EMA.To the upside, the $5000 level could be a target, but we need rates to drop pretty significantly for that to happen. Until then, this is probably a sideways short-term range-bound market that, u ...