Gold Price Update: Weekly Decline Amid Hawkish Fed Signals

Market Outlook for Gold

Bearish Factors

  • The Federal Reserve's hawkish stance continues to weigh on gold prices.
  • Declining physical demand from India adds to the downside pressure.

Supportive Factors

  • Ongoing geopolitical risks may lend some support to gold's safe-haven appeal.

Technical Levels to Watch

  • Key Support: $2,550 per ounce – A break below this could trigger further downside.
  • Key Resistance: $2,625 per ounce – A recovery above this level may signal stabilization.

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