Gold remains locked in a battle near the $4,000 mark as the metal heads toward its worst quarterly performance in 13 years.
Prices have struggled to hold gains, with the recent skirmish around the key psychological level failing to produce a decisive breakout.
Market sentiment has turned cautious amid shifting expectations for Federal Reserve policy and a strengthening U.S. dollar.
Analysts point to the calendar as a potential tailwind for gold, with historical patterns suggesting seasonal support in coming months.
The metal’s slide this quarter marks a sharp reversal from its earlier rally, which was fueled by geopolitical tensions and inflation concerns.
Investors are now weighing the impact of higher interest rates on gold’s appeal, as the opportunity cost of holding non-yielding assets rises.
Supply dynamics remain stable, with mining output continuing at a steady pace despite the price volatility.
Technical indicators show gold hovering near support levels, with a break below $3,800 potentially triggering further selling.
On the upside, a clear move above $4,000 could reignite bullish momentum and attract fresh buying interest.
The broader market outlook remains uncertain, as traders monitor central bank decisions and economic data for directional cues.
