The price of gold crashed today and now is trading at 1989 at the time of writing. The downside pressure remaind strong as the DXY is bullish despite minor retreats. Fundamentally, the UK, Eurozone and chinese data came mixed. Still, the Canadian inflation figures and the US data bought sharp movements. The Canadian CPI reported a 0.7% growth versus the 0.5% growth estimated, while the US retail sales data came in better compared to the previous reporting period. The greenback took the lead again after economic figures, that's why the XAU/USD dropped.
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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.