Gold Faces More Downside on Hormuz & Inflation Fears for OANDA:XAUUSD by OMAR_TP

TradingView idea: Gold Faces More Downside on Hormuz & Inflation Fears for OANDA:XAUUSD by OMAR_TP TradingView symbol: XAUUSD Dear traders, Amid sustained safe-haven demand for the US dollar and escalating tensions around the Strait of Hormuz, XAUUSD is increasingly setting up as a market where sellers may re-enter. At the moment, gold continues to consolidate its bearish momentum, trading around the $4,551 level. The current macro backdrop remains unfavorable for XAUUSD. As such, my downside target is $4,405, with bearish continuation expected once price firmly breaks below the $4,500 level. What about you—where …