I have noticed a clear decline in gold prices in recent days, and the current price is around $4,640 after breaking the $4,650 level – this is a significant technical shift. Selling pressure continues, and buying momentum is very weak, especially with the ongoing strength of the US dollar.

The main reason for this decline is the rise in the dollar, which makes gold more expensive for global buyers. Additionally, markets are awaiting central bank decisions, especially from the Federal Reserve, and this uncertainty is causing investors to hold cash rather than enter new positions. Geopolitical tensions exist, but their impact is now weaker than before.

From a technical analysis perspective, the MACD indicator remains below zero, reflecting a continued downward trend, while the RSI is near 35, which may indicate a limited rebound ahead. However, this does not mean the main trend has reversed.

If the price fails to rise above 4,650 and closes above it, the next target will be 4,550 then 4,450. On the other hand, if the price returns strongly above 4,650, we may see an increase toward 4,750 and 4,850.

Some analysts expect gold to test $4,600 in the coming period, especially if the dollar remains strong. Others see that any pullback toward 4,600-4,650 could be a good medium-term buying opportunity, with the potential to rebound toward 4,800 if the dollar weakens or economic slowdown signals appear.

The zone between 4,550 and 4,650 is the current decision range, and the coming hours will be decisive in determining the next trend. Gold price analysis requires close monitoring of dollar movements and upcoming central bank decisions.