GOLD - Ended the session with continued downward momentum
Updated
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In the global gold market, the price of gold closed the week down $15.9 to $1,848.4 per ounce.
The reasons for the decline in gold prices can be attributed to three weak points, including the recovery of the US dollar, higher US bond yields, and the US central bank maintaining its restrictive monetary policy in the near future, which has caused gold to drop to its lowest level in the past month.
With the movement of gold on the 4-hour timeframe, along with indicators from EMA and RSI, a lower downward trend is expected in the coming period. Given the current unfavorable situation for gold, it is possible that the price of gold may touch $1800 in the near future.
In the global gold market, the price of gold closed the week down $15.9 to $1,848.4 per ounce.
The reasons for the decline in gold prices can be attributed to three weak points, including the recovery of the US dollar, higher US bond yields, and the US central bank maintaining its restrictive monetary policy in the near future, which has caused gold to drop to its lowest level in the past month.
With the movement of gold on the 4-hour timeframe, along with indicators from EMA and RSI, a lower downward trend is expected in the coming period. Given the current unfavorable situation for gold, it is possible that the price of gold may touch $1800 in the near future.
Note
good luckNote
Gold prices continued to decline in the first session of the week, the outlook was still down as expectedNote
Trade closed: stop reached
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