Gold continues to decline in the new week
Updated
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At the beginning of this week's trading session, gold continues to maintain a downward trend, equivalent to a 5 USD decrease compared to the previous session, currently at 1843 USD/ounce.
Yields and the USD index remain a dangerous threat to the price of gold. "Hawkish" signals regarding monetary policy in the near future, with the aim of cooling inflation, along with the current environment, prevent gold from reversing even with supportive economic data.
The highlight of this week will be the release of the non-farm payroll report for September, scheduled for Friday morning. This could potentially be a ray of hope for gold to increase in value. Conversely, if it is negative news, there will be nothing to stop gold from continuing to decline in the foreseeable future.
At the beginning of this week's trading session, gold continues to maintain a downward trend, equivalent to a 5 USD decrease compared to the previous session, currently at 1843 USD/ounce.
Yields and the USD index remain a dangerous threat to the price of gold. "Hawkish" signals regarding monetary policy in the near future, with the aim of cooling inflation, along with the current environment, prevent gold from reversing even with supportive economic data.
The highlight of this week will be the release of the non-farm payroll report for September, scheduled for Friday morning. This could potentially be a ray of hope for gold to increase in value. Conversely, if it is negative news, there will be nothing to stop gold from continuing to decline in the foreseeable future.
Note
What do you think about the market this week?Note
By the end of September, the price of gold had lost 4.6% compared to the closing level in August. In the past 3 months, this precious metal has decreased by 3.3%.Note
Expert Mark Leibovit said that gold is likely to reverse this week and the driving force for gold's increase is that the USD has peaked and begun to decline.Note
Note
Trade closed: stop reached
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