Analysis of Gold tonight
Updated
Hello everyone! The price of gold today is following the main trend, currently trading at $1,822 per ounce, a decrease of $25 per ounce compared to earlier this morning due to the US dollar reaching its highest level in 10 months and the yield on US Treasury bonds rising to its highest level in 16 years.
Looking at the technical picture on the H4 time frame, we can see that the main trend is still downward, but currently the price decline seems to have cooled off as Gold has experienced a slight increase to $1,826. This indicates a minor correction at this moment. However, don't worry as the overall market sentiment still supports Gold's downward trend. Therefore, it is possible for Gold to drop to $1,800 tonight.
Looking at the technical picture on the H4 time frame, we can see that the main trend is still downward, but currently the price decline seems to have cooled off as Gold has experienced a slight increase to $1,826. This indicates a minor correction at this moment. However, don't worry as the overall market sentiment still supports Gold's downward trend. Therefore, it is possible for Gold to drop to $1,800 tonight.
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