XUAUSD : 4 Hour Chart Gold continues to extend losses today as we can see on the 4 hour chart. The commodity is following a falling channel trend and currently testing the key support at 1211.71. The investors are now diverging from the safe haven commodities to the risky investments as the US economy is showing some growth and the central bank is on its way to winding up the stimulus program. As planned the bank will end its stimulus program in October and start increasing interest rates in mid of 2015. US dollar is higher against all its major counterparts mainly on this expectation. Even if it rises from current support level at 1211.71 it will again find resistance from the falling resistance trend line. The moving averages heading downwards and moving apart are signaling a downtrend continuation. XAUUSD : Daily Chart On the weekly chart, the gains are clearly seems capped as the falling resistance trend line is resisting the commodity to rise above it since September 2012. The descending trend on the chart is signaling that the pair will break below the key support 1211.71 and 1195.48.