Gold Price Analysis: XAU/USD extends backslide, aimed for $1,950

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• Spot Gold prices are seeing further losses on the week as risk appetite staggers.
• XAU/USD falls through $1,970, further downside on the cards.
• Market sentiment has reversed direction this week.

Spot Gold is getting knocked down for a second day in a row as the week rotates into risk-off flows following last week’s sentiment recovery. Markets overwhelmingly heralded the end of rate hikes following last week’s Federal Reserve (Fed) rate hold, but Monday saw a pullback as investors moderated their forward-looking positions on rate expectations.