Darius hello everyone!
Today, gold prices continued to struggle to reach the price level of around 1,915 USD in the early trading session on Tuesday. The precious metal remains weighed down by a recovery in the US dollar and higher US bond yields.
The outlook for XAUUSD is bearish. Looking at the technical picture on the 4-hour timeframe, we can see that the main trend of gold is currently down after breaking the support zone. It is expected to fall to the indicated level after rising again.
Today, gold prices continued to struggle to reach the price level of around 1,915 USD in the early trading session on Tuesday. The precious metal remains weighed down by a recovery in the US dollar and higher US bond yields.
The outlook for XAUUSD is bearish. Looking at the technical picture on the 4-hour timeframe, we can see that the main trend of gold is currently down after breaking the support zone. It is expected to fall to the indicated level after rising again.
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The hawkish stance of the US Federal Reserve (Fed) at the recent monetary policy meeting will continue to be a catalyst to push bond yields and the USD higher, putting great pressure on precious metals.Note
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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.