Gold price (XAU/USD) remains under bearish momentum as it stays below the 20-day EMA. Analysts suggest further downside potential if the price breaks the technical support level of $3,940. As of July 20, the price is approaching the tip of a technical triangle formation near the $4,000 area.
Amid escalating geopolitical risks in the Middle East, gold has re-emerged as a preferred safe-haven asset for investors hedging against global uncertainty.
Read the full storyGold price XAU/USD is approaching the apex of a technical triangle formation near the $4,000 level, signaling a potential directional breakout.
Gold struggles to regain momentum as it remains below the 20-day EMA, with analysts eyeing a potential break below key support levels.