Gold Set for Fourth Weekly Loss on Hawkish Fed Stance

GOOGL shares closed at $343.56, trading below its 20-day moving average of $345.45 and showing notable weakness relative to its 50-day average of $355.67. The RSI at 40.3 is approaching oversold territory, while the MACD line remains below the signal line and in negative territory, confirming weak short-term momentum. News headlines suggest the Fed's hawkish stance could dampen overall market risk appetite, potentially creating additional selling pressure on growth stocks. The combination of weakening technical indicators and macroeconomic concerns makes it highly likely that GOOGL will continue its downward trend over the next 1-3 days.

Gold prices are poised for a fourth consecutive weekly decline, pressured by the Federal Reserve's hawkish stance. Technical indicators support the downtrend, with the RSI approaching oversold territory at 34 and the MACD below its signal line in negative territory. Trading below short-term SMAs (20- and 50-day) confirms the ongoing bearish trend. However, the RSI nearing oversold levels raises the possibility of a short-term corrective bounce. Therefore, while the bearish outlook remains strong, caution is warranted due to oversold conditions.

The news headline indicates that the Federal Reserve's hawkish stance is putting pressure on gold prices, with a fourth consecutive weekly loss anticipated. Technical indicators support this view: the RSI at 44.5 signals weakness below the neutral zone, the MACD line is below the signal line and in negative territory, and the price is trading below the 20-day and 50-day moving averages, confirming a short-term downtrend. The recent 0.95% decline in the last close and weak momentum suggest that downward movement may continue over the next 1-3 days.