Market Analysis: Gold Correction Signals Amid Political Calm
Gold has experienced a significant drop, pushing prices below the $2,340 threshold in Monday's US trading session. The easing of political tensions has provided clear indications that gold is gearing up for a profound adjustment. Additionally, expectations that the Federal Reserve will postpone interest rate cuts amidst stable inflationary conditions have further bolstered the strength of the US dollar, driving capital away from safe-haven assets like precious metals.
From a technical standpoint, the short-term outlook for gold suggests a reversal adjustment as it heads towards the 20-day simple moving average (SMA) before continuing its downward trajectory.
From a technical standpoint, the short-term outlook for gold suggests a reversal adjustment as it heads towards the 20-day simple moving average (SMA) before continuing its downward trajectory.
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.