Hello everyone, what do you think about gold?
Today, gold continues its short-term downtrend. After new data was released at the end of yesterday’s trading session, the USD rose by 0.3%, and U.S. Treasury yields also increased, reducing the appeal of gold. Additionally, the latest unemployment claims data shows improvement in the U.S. economy, which has contributed to the drop in the precious metal.
As of writing, gold is trading around the EMA 34, 89 levels at 3,336 USD. With the recent news, the market is expected to maintain its current stance throughout the day, as no new significant updates are expected.
From a technical standpoint, the downtrend remains in place, with prices continuing to be capped below the trendline. The series of lower highs and lows could likely lead XAUUSD to test lower levels, with the possibility of reaching the 3,300 USD mark.
What do you think about the price of gold today? Let us know in the comments!
Today, gold continues its short-term downtrend. After new data was released at the end of yesterday’s trading session, the USD rose by 0.3%, and U.S. Treasury yields also increased, reducing the appeal of gold. Additionally, the latest unemployment claims data shows improvement in the U.S. economy, which has contributed to the drop in the precious metal.
As of writing, gold is trading around the EMA 34, 89 levels at 3,336 USD. With the recent news, the market is expected to maintain its current stance throughout the day, as no new significant updates are expected.
From a technical standpoint, the downtrend remains in place, with prices continuing to be capped below the trendline. The series of lower highs and lows could likely lead XAUUSD to test lower levels, with the possibility of reaching the 3,300 USD mark.
What do you think about the price of gold today? Let us know in the comments!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
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.