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XAU/USD Price Analysis and Forecast – Gold Faces a New Wave of Selling Pressure
Gold (XAU/USD) remains under selling pressure;
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Gold (XAU/USD) remains under selling pressure; however, the asset is still managing to hold above the psychologically important $4,500 level.The US dollar continues to strengthen, reaching a new six-week high amid hawkish rhetoric from the Federal Reserve.Additional support for the U.S. currency comes from mixed signals regarding a possible settlement between the United States and Iran, reinforcing the dollar's position as the world's primary reserve currency and consequently reducing the appeal of gold.Market participants have now fully ruled out a
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Irina Yanina,
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