I have noticed that gold is going through a very difficult period right now. Last week, it fell below $4,600 and experienced sharp consecutive losses, marking its worst weekly performance in a while. The price is now moving around $4,570 approximately, and selling pressures are very strong.

The problem is that U.S. bond yields have risen to their highest levels in nearly a year, and the dollar is very strong. This means that the interest on U.S. bonds has become more attractive than gold. Additionally, markets now exclude any rate cuts by the Federal Reserve in 2026, and there are bets on a possible further hike if inflation continues. This is very bad for gold.

The geopolitical situation in the Middle East still exerts additional pressure. Oil prices are above $106, and navigation through the Strait of Hormuz is turbulent, but unfortunately, this has not helped gold much because rising oil prices increase inflation fears, which pushes U.S. interest rates higher instead of boosting demand for gold as a safe haven.

Regarding gold forecasts today and in the coming days, it is expected that pressure will continue toward $4,500. The first important support level is $4,500, and if it breaks, we might see $4,400. On the other hand, if gold attempts to rebound and return to the $4,600 level, it could be a good selling opportunity. Technical indicators indicate a strong oversold condition (RSI near 28), but this does not mean a confirmed rise.

Major financial institutions largely agree on the short-term bearish scenario. Some expect movement within 4,480-4,650, while others see the possibility of testing 4,450-4,500 before any upward move. It is important to monitor upcoming U.S. economic data and any statements from the Federal Reserve.