Gold promises to drop to the 1800 USD mark
Updated
Hello everyone!
The price of gold at the beginning of the week is still declining and is currently trading at $1843 per ounce, a decrease of $5.2 compared to the previous session. This decline can be attributed to negative market influences, such as the continuous rise in the US dollar index, which has now surpassed 106 points. Additionally, the yield on US bonds continues to increase, causing global markets to be concerned about rising inflation. Despite supportive economic data, these current circumstances make it difficult for gold to reverse its downward trend.
It is expected that gold will experience slight profitability this week ahead of the release of non-farm payroll reports for September, scheduled for Friday morning.
The price of gold at the beginning of the week is still declining and is currently trading at $1843 per ounce, a decrease of $5.2 compared to the previous session. This decline can be attributed to negative market influences, such as the continuous rise in the US dollar index, which has now surpassed 106 points. Additionally, the yield on US bonds continues to increase, causing global markets to be concerned about rising inflation. Despite supportive economic data, these current circumstances make it difficult for gold to reverse its downward trend.
It is expected that gold will experience slight profitability this week ahead of the release of non-farm payroll reports for September, scheduled for Friday morning.
Note
good luck everyoneTrade active
Note
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.