Gold fell sharply in the context of US Treasury bond yields reaching a 16-year high and profit-taking activities leading to a sell-off of precious metals.
Gold is also under pressure from the USD hanging high near a 6.5-month peak. The DXY index (which measures the movement of the USD against 6 major currencies) is near 106 points
Gold also decreased because a commodity closely related to gold, oil, dropped sharply. Petroleum demand is forecast to be suppressed as major central banks keep interest rates high for a long time.
North Sea Brent oil price dropped to 92.8 USD/barrel, while US light sweet crude oil price (WTI) dropped to 89.3 USD/barrel
Gold is also under pressure from the USD hanging high near a 6.5-month peak. The DXY index (which measures the movement of the USD against 6 major currencies) is near 106 points
Gold also decreased because a commodity closely related to gold, oil, dropped sharply. Petroleum demand is forecast to be suppressed as major central banks keep interest rates high for a long time.
North Sea Brent oil price dropped to 92.8 USD/barrel, while US light sweet crude oil price (WTI) dropped to 89.3 USD/barrel
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PREMIUM CHANNEL ✉️
🔴9-12 signals per day
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t.me/xauusdtradingfx
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/xauusdtradingfx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.