Gold continues to leave the $ 2000 area
Updated
Hello Karina's friends!
So, gold has cooled off after yesterday's news was announced, moving away from the $2000 mark and trading around $1980 at the start of today's session, experiencing a 0.18% decrease throughout the day.
With the US Dollar outperforming its major counterparts ahead of the highly anticipated Fed policy announcements on Wednesday, gold has been pushed into a difficult position and continues its downward trend.
The current support level may help gold recover in the short term, currently sitting at $1950, which is also near the operating range of the EMA 89. We can expect gold to increase in value from this resistance level.
So, gold has cooled off after yesterday's news was announced, moving away from the $2000 mark and trading around $1980 at the start of today's session, experiencing a 0.18% decrease throughout the day.
With the US Dollar outperforming its major counterparts ahead of the highly anticipated Fed policy announcements on Wednesday, gold has been pushed into a difficult position and continues its downward trend.
The current support level may help gold recover in the short term, currently sitting at $1950, which is also near the operating range of the EMA 89. We can expect gold to increase in value from this resistance level.
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