Gold price decreased slightly

Updated

Greetings dear readers! Are you curious about today's gold prices? Currently, the price of gold has dropped by $10 per ounce to $1,922 per ounce compared to yesterday's trading session. Despite a decrease in the USD-Index, it still remains at a high level. Additionally, the increase in US Treasury bond yields has contributed to the decline in gold prices.

We need to wait for the release of US inflation data on Wednesday and the scheduled monetary policy meeting this week to have a clearer understanding of what lies ahead for gold in the near future.

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good luck

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At the time of the survey, DXY measured greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increasing by 0.07%; to 104.64.

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Information about the European Central Bank's policy meeting this week is also of interest to investors. It is expected that this bank will slightly increase interest rates by 25 basis points.

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The USD has not stopped increasing in price, which is still the reason why gold is stuck.

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Currently, the gold market is fluctuating around $1908 per ounce. It can be seen that gold has experienced a slight decline today, specifically dropping from $1920 to $1908 when the Fed hinted at the possibility of tightening monetary policy further. This is the lowest level gold has reached in the past three weeks.

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Gold has fallen exactly as indicated by the technical indicator

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