Gold has found a bottom after a continuous decline of 1 month?
Updated
⚡️Gold price today on August 21 continued to decline and reached 1891 due to the increase in USD and bond yields.
⚡️The gold market was under pressure as US Treasury yields and the dollar index rose. Yields on 10-year US Treasuries hit their highest level in 15 years. The USD index recorded a 9-week high, closing the session at 103 points.
⚡️Bond yields rose ahead of the possibility that the US Federal Reserve (Fed) would maintain the current high interest rates, not to mention the Fed may continue to raise interest rates in September. That creates a challenging environment for gold, which means gold prices are unlikely to rise in the near ter
⚡️Trading plan you can watch to sell gold around the price zone 1903-1905. then the 1906 price zone will become a strong support zone. You can consider buying gold at this price range. expect gold to recover to 1911.
⚡️The gold market was under pressure as US Treasury yields and the dollar index rose. Yields on 10-year US Treasuries hit their highest level in 15 years. The USD index recorded a 9-week high, closing the session at 103 points.
⚡️Bond yields rose ahead of the possibility that the US Federal Reserve (Fed) would maintain the current high interest rates, not to mention the Fed may continue to raise interest rates in September. That creates a challenging environment for gold, which means gold prices are unlikely to rise in the near ter
⚡️Trading plan you can watch to sell gold around the price zone 1903-1905. then the 1906 price zone will become a strong support zone. You can consider buying gold at this price range. expect gold to recover to 1911.
Note
Gold prices remain firm at five-month lows as market participants seek solace in the US Dollar amid uncertainty ahead of this week's top data/events. Also putting downward pressure on XAU/USD could be pessimism around one of the world's biggest users of the commodity, namely China.Note
Gold has broken trendline 1890 ready to hit 1900. signal uptrend is startingNote
Note
Just like I analyzed gold has reversed the uptrend. Today we will catch a rally of the market. Currently in the channel we are setting up a sell order 1920-1922. expect gold to reach 1915 so we can take profit.
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