Gold prices plummeted before the recovery of the USD
Updated
The current price of gold in the international market is hovering around $1,897.9 per ounce, which is a decrease of $3 per ounce compared to this morning.
The recent monetary policy meeting of the Federal Reserve (Fed) indicates that their stance will continue to be a catalyst for pushing bond yields and the US dollar higher, putting significant pressure on precious metals and acting as the main factor influencing gold prices.
Analyzing the 4-hour chart, Gold has declined without finding support at the $1900 level. It would not be surprising if gold continues to test lower levels below $1888 as it is a strong support level that suggests potential price recovery from this point.
The recent monetary policy meeting of the Federal Reserve (Fed) indicates that their stance will continue to be a catalyst for pushing bond yields and the US dollar higher, putting significant pressure on precious metals and acting as the main factor influencing gold prices.
Analyzing the 4-hour chart, Gold has declined without finding support at the $1900 level. It would not be surprising if gold continues to test lower levels below $1888 as it is a strong support level that suggests potential price recovery from this point.
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