Gold continues its losing streak
Brian greets you all.
Yesterday witnessed gold continuing to decline from $1875 to $1866 in today's trading session. This is the lowest figure seen in months. High bond yields and a strong USD continue to weigh on the precious metal.
With the Fed maintaining its trend of tightening interest rates and the market conditions unfavorable for gold persisting as they are at present, it would come as no surprise if the price of gold continues to decline in the coming days. Any upward pressure on gold may only be short-term, with the possibility of this precious metal testing the $1,800/ounce level, with strong resistance levels ranging from $1,840 to $1,850/ounce.
Yesterday witnessed gold continuing to decline from $1875 to $1866 in today's trading session. This is the lowest figure seen in months. High bond yields and a strong USD continue to weigh on the precious metal.
With the Fed maintaining its trend of tightening interest rates and the market conditions unfavorable for gold persisting as they are at present, it would come as no surprise if the price of gold continues to decline in the coming days. Any upward pressure on gold may only be short-term, with the possibility of this precious metal testing the $1,800/ounce level, with strong resistance levels ranging from $1,840 to $1,850/ounce.
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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.