Gold (XAUUSD) under pressure: the week is closing with a decline

Gold (XAUUSD) prices have fallen to 4,665 USD as developments in the commodities market are reducing gold’s appeal. Discover more in our analysis for 24 April 2026.

XAUUSD forecast: key takeaways

• Gold (XAUUSD) prices are moving lower due to mounting inflation risks
• Technical signals confirm the negative dynamics
• XAUUSD forecast for 24 April 2026: 4,650

Fundamental analysis

Gold (XAUUSD) is hovering around 4,665 USD per ounce on Friday, losing about 3% for the week. Pressure is linked to rising tensions between the US and Iran around the Strait of Hormuz. Higher energy prices are increasing inflation risks and reducing the metal’s appeal.

Both sides maintain the blockade of the strategic route, while negotiations are making little progress. Donald Trump stated that he is ready to use force against vessels laying mines and also confirmed the detention of a tanker carrying Iranian oil.

At the same time, the ceasefire between the US and Iran has been extended for an indefinite period while Washington awaits official proposals from Tehran. The agreement between Israel and Lebanon has also been extended for another three weeks.

High energy prices fuel inflation expectations and increase the likelihood of central bank rate hikes, putting pressure on gold as an asset without its own yield.

The gold (XAUUSD) forecast is negative.

Technical outlook

The gold (XAUUSD) H4 chart shows that after an attempt to rise towards the 4,850–4,900 zone, gold failed to consolidate above it and reversed downwards. From this level, a consistent correction began, with prices forming lower highs, indicating weakening upward momentum. The latest candlesticks show the decline has accelerated, with prices moving towards the lower boundary of the range.

Bollinger Bands are signalling a downward move: quotes have consolidated below the middle line and are moving along the lower boundary, suggesting seller dominance. The current zone around 4,650–4,670 is acting as the nearest support, where the market is already testing demand. If it breaks, pressure could intensify.

Indicators confirm the negative trend. MACD is in negative territory and continues to decline, strengthening the sell signal. The Stochastic Oscillator is approaching oversold territory, suggesting short-term rebounds, but does not yet signal a reversal. Overall, the structure remains downward in the short term. Further movement depends on the reaction to current support.

XAUUSD overview

• Asset: XAUUSD
• Timeframe: H4 (Intraday)
• Trend: downward
• Key resistance levels: 4,820 and 4,900
• Key support levels: 4,650 and 4,500

XAUUSD trading scenarios for today

Main scenario (Buy Stop)

A breakout and consolidation above the 4,820 level would indicate an attempt at recovery after the current decline. This could push prices back towards the 4,900–4,970 zone if inflationary pressures ease.

• Take Profit: 4,970
• Stop Loss: 4,790

Alternative scenario (Sell Stop)

Consolidation below 4,650 would confirm downward momentum amid rising inflation risks and demand for the dollar. Pressure may intensify, with a target around 4,500.

• Take Profit: 4,500
• Stop Loss: 4,670

Risk factors

Risks to growth include a possible easing of tensions in the Middle East, which would reduce demand for safe-haven assets. Additional pressure may come from a stronger dollar and continued hawkish expectations regarding Fed policy.

Summary

Gold prices are declining, with technical signals confirming fundamental factors. The XAUUSD forecast for today, 24 April 2026, expects a slide below 4,650.

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