The gold price XAU/USD has failed to breach the resistance at $1945 per ounce, leading to technical selling. The persistent strength of the US dollar has subjected the gold price to selling pressures, pushing it towards the support level of $1895 per ounce. Despite nearing the end of the tightening cycle, dovish sentiments from the Federal Reserve have intensified, causing concerns among investors who were anticipating US interest rate cuts as early as spring 2024. Currently, the gold price has broken the support level of $1900 per ounce, further confirming the bearish grip on the trend and pushing technical indicators towards strong selling saturation levels. Hence, considering the potential halt in the US dollar’s gains, now might be an opportune moment to consider gold purchases.