Gold remains under selling pressure above $1,900
Hello everyone!
Today, the price of gold continues to struggle to reach a value of around $1,915 in early Tuesday trading. The precious metal is still weighed down by the recovery of the US dollar and higher US yields. Meanwhile, the US Dollar Index is fluctuating around 105.95 after retreating from its highest level since November at 106.09.
The outlook for XAUUSD is bearish. On the 4-hour chart, technical indicators show a downward trend, with prices significantly lower than the major moving averages. The price is testing the support level of $1,915, and a break below this lower level will reveal the downward trend, currently at $1,908, followed by $1,900.
Today, the price of gold continues to struggle to reach a value of around $1,915 in early Tuesday trading. The precious metal is still weighed down by the recovery of the US dollar and higher US yields. Meanwhile, the US Dollar Index is fluctuating around 105.95 after retreating from its highest level since November at 106.09.
The outlook for XAUUSD is bearish. On the 4-hour chart, technical indicators show a downward trend, with prices significantly lower than the major moving averages. The price is testing the support level of $1,915, and a break below this lower level will reveal the downward trend, currently at $1,908, followed by $1,900.
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good luck
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The hawkish stance of the US Federal Reserve (Fed) at the recent monetary policy meeting will continue to be a catalyst to push bond yields and the USD up, putting great pressure on precious metals.
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With the above information, the business world may speculate that world gold prices still face many difficulties.
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Gold fell as expected to touch 1905 USD at support
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Spot Gold accelerated its slide on Tuesday, with XAU/USD plummeting to $1,900.83, its lowest in almost two weeks.
