Gold price about to hit 1800 USD?
Updated
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Today, the gold continues its streak of price reductions. Since slipping below the $1900 mark, gold has been steadily declining and is currently trading at $1818 with indications of approaching the $1800 price range.
The increase in US bond yields and the rising value of the USD continue to pose a threat and exert pressure on precious metals. This is evident as the gold market continues to experience price declines during this period.
Today, the gold continues its streak of price reductions. Since slipping below the $1900 mark, gold has been steadily declining and is currently trading at $1818 with indications of approaching the $1800 price range.
The increase in US bond yields and the rising value of the USD continue to pose a threat and exert pressure on precious metals. This is evident as the gold market continues to experience price declines during this period.
Note
Price trading below the 2 EMA shows a downtrendNote
good luckNote
At the time of the survey, the US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.15%; to 107.06.Trade active
Note
Since breaking above the key level of $2,000 an ounce in early May, gold has fallen more than 11% in price.Note
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