XAU falls as investors sell off
Gold prices fell today (August 6) as investors continued to sell gold to cover losses in the stock market. Markets are also continuing to feel the negative impact of the cancellation of the "yen carry trade" as well as concerns about a recession in the US and globally, reducing demand for precious metals.
Stock markets plunged from Asia to North America as investors fled riskier assets while betting that the US Federal Reserve (Fed) will need to cut interest rates quickly to boost US economic growth.
Stock markets plunged from Asia to North America as investors fled riskier assets while betting that the US Federal Reserve (Fed) will need to cut interest rates quickly to boost US economic growth.
Note
BUY XAU 2384
TP1: 2390
TP2L 2396
SL:2378
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.