Gold price drops silently waiting for price increase
Updated
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Presently, the price of gold in the global market is experiencing a continuous decline, with spot gold dropping by 14.9 USD to reach 1,900.9 USD/ounce. This decline can be attributed to both the strengthening dollar and the rising yields on 10-year bonds, which have reached significant levels.
Even though the US Federal Reserve (Fed) is compelled to maintain its "higher for longer" monetary policy due to a resilient economy and persistently high inflation rates, gold still enjoys substantial support due to lingering market instability.
Darius conveyed his opinion by stating that today's drop in gold prices below its support level indicates a forthcoming minor adjustment followed by an upward movement in value.
Presently, the price of gold in the global market is experiencing a continuous decline, with spot gold dropping by 14.9 USD to reach 1,900.9 USD/ounce. This decline can be attributed to both the strengthening dollar and the rising yields on 10-year bonds, which have reached significant levels.
Even though the US Federal Reserve (Fed) is compelled to maintain its "higher for longer" monetary policy due to a resilient economy and persistently high inflation rates, gold still enjoys substantial support due to lingering market instability.
Darius conveyed his opinion by stating that today's drop in gold prices below its support level indicates a forthcoming minor adjustment followed by an upward movement in value.
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Note
as the hawkish stance of the US Federal Reserve (Fed) continues to boost the rise in bond yields and the USD and crush the bullish trend of the metals market.Trade active
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Note
Note
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