US dollar index hits new high
U.S. economic data and comments from the Federal Reserve drove the dollar index to continue to strengthen. This also directly caused the price of gold to fall.
Gold was suppressed near the 200 SMA on Monday and subsequently fell to the current level of 1908. Gold prices will continue to weaken and retest 1900. Gold follow-up focuses on 1900, 1890, and 1875.
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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.