Wide margin sideway prediction for gold
Updated
🌹Gold price today continued to decline to 1,818 USD/ounce, equivalent to a decrease of 0.55%. This is the lowest price of the world gold market in the past 10 months.
🌹Gold weakened in the context of increased demand for holding greenbacks, creating momentum for the USD Index to sometimes increase from 106.17 points to 106.9 points, helping the USD increase in price compared to 6 other strong currencies - including: Euro, JPY, GBP, CAD, SEK and CHF.
🌹Meanwhile, the 10-year US bond interest rate jumped to 4.7%/year, triggering many people to collect USD to buy bonds, pushing this currency to increase in price even more.
🌹Under pressure from the USD and US bonds, this precious metal market is at a disadvantage so investors have limited their holdings. Today's world gold price decline is inevitable.
Trading plan October 3
XAUUSD Sell zone 1848 - 1850
SL 1853
TP 1810
🌹Gold weakened in the context of increased demand for holding greenbacks, creating momentum for the USD Index to sometimes increase from 106.17 points to 106.9 points, helping the USD increase in price compared to 6 other strong currencies - including: Euro, JPY, GBP, CAD, SEK and CHF.
🌹Meanwhile, the 10-year US bond interest rate jumped to 4.7%/year, triggering many people to collect USD to buy bonds, pushing this currency to increase in price even more.
🌹Under pressure from the USD and US bonds, this precious metal market is at a disadvantage so investors have limited their holdings. Today's world gold price decline is inevitable.
Trading plan October 3
XAUUSD Sell zone 1848 - 1850
SL 1853
TP 1810
Trade active
trading activeNote
waiting ADP tonightNote
good luckNote
According to fibonancy gold touched 1847 early
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.