Gold prices fell to a one-week low and appear vulnerable to extending their downward trend. The Federal Reserve's hawkish outlook pushed U.S. Treasury yields higher and weighed on gold prices.
The U.S. dollar, which sits near its year-to-date peak, is seen as another factor weakening gold.
Gold prices fell significantly yesterday and tested the key support level of $1913.15 per ounce.
As gold prices fall below the support level of $1,913.15 per ounce, gold prices will face bearish pressure, with the next targets targeting $1,890.00 per ounce and $1,875.00 per ounce.
Note
active tradeNote
active tradeNote
active tradeNote
active tradeNote
active tradeNote
active tradeNote
active trade
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.
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.