Gold prices are currently experiencing a downward trend for the fourth consecutive day, with the XAU/USD pair hovering just above the critical $1900 mark. This decline is primarily driven by the strengthening US dollar, which has been bolstered by the Federal Reserve’s hawkish outlook and the surge in US Treasury bond yields. The hawkish stance of other major central banks, such as the European Central Bank and the Bank of England, has also contributed to the shift away from the non-yielding gold. However, the deteriorating global economic outlook and concerns about worsening US-China relations could provide some support to the safe-haven XAU/USD. Traders should closely monitor the $1895 support level, as a breakdown could reinforce the bearish outlook and set the stage for a slump towards the 200-day moving average near $1855.