Gold Price Forecast: XAU/USD recaptures key 100-day SMA resistance, what’s next?

Gold is sitting close to eight-day highs of $4,724 early Wednesday amid renewed market optimism on a probable de-escalation of the conflict in the Middle East, bracing for the US ADP Employment Change data for fresh trading impetus. Gold retains recovery bias so far this week, battling $4,700 early Wednesday.The US Dollar consolidates losses amid optimism on a de-escalation… Gold is sitting close to eight-day highs of $4,724 early Wednesday amid renewed market optimism on a probable de-escalation of the conflict in the Middle East, bracing for the US ADP Employment Change data for fresh trading impetus. Gold retains recovery bias so far this week, battling $4,700 early Wednesday.The US Dollar consolidates losses amid optimism on a de-escalation of the Middle East warGold closed Tuesday above the 100-day SMA of $4,644, but bearish daily RSI cautions buyers.   Gold is sitting close to eight-day highs of $4,724 early Wednesday amid renewed market optimism on a probable de-escalation of the conflict in the Middle East, bracing for the US ADP… For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.