Gold prices declined in recent intraday trading, affected by the solid resistance level at $4,500, while the short-term corrective downtrend continues to dominate.

The price is also facing ongoing negative pressure as it trades below EMA50, reinforcing the bearish trend. In the background, a negative divergence is starting to form on the relative strength indicators after reaching overbought levels compared to price movement, along with the appearance of a negative crossover, increasing the likelihood of continued decline in the near term.