Gold continues to decline despite the decrease in US Treasury bond yields and a weaker US dollar. XAUUSD faces challenges in capitalizing on the weaker-than-expected global PMI announced by S&P, fueling speculation about the Fed's potential interest rate cuts.
From a technical standpoint, it seems that gold will persist in its downward trend. On the 4-hour chart, the downward trend is clearly evident. The SMA 100 shows signs of slight increase, indicating a limitation in short-term price increases, while the SMA 20 is trending downwards relative to longer SMA.
From a technical standpoint, it seems that gold will persist in its downward trend. On the 4-hour chart, the downward trend is clearly evident. The SMA 100 shows signs of slight increase, indicating a limitation in short-term price increases, while the SMA 20 is trending downwards relative to longer SMA.
Note
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.
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.