Gold Price Plunges Under Pressure From Rising USD and US Stocks
Aggiornato
The current chart shows that gold prices are under great pressure as the USD Index surged to 105.12, making the USD stronger. This has reduced the attractiveness of gold to international investors. In addition, optimism about the US economic outlook under President Donald Trump and expectations that the FED will pause interest rate cuts have also contributed to the decline in gold prices.
The next important support level is at the $2,620/ounce area, a price level that has previously produced a rebound. If the price falls to this level, this could be the point where traders wait to see if there is enough buying pressure to create a temporary recovery. However, if the price breaks the $2,620 level, the price is likely to continue to fall further, towards lower support levels such as $2,600 or $2,580/ounce.
Given the current economic factors and the growth outlook of the USD, gold may continue to be under pressure in the coming time, especially when the demand for holding USD is still increasing.
The next important support level is at the $2,620/ounce area, a price level that has previously produced a rebound. If the price falls to this level, this could be the point where traders wait to see if there is enough buying pressure to create a temporary recovery. However, if the price breaks the $2,620 level, the price is likely to continue to fall further, towards lower support levels such as $2,600 or $2,580/ounce.
Given the current economic factors and the growth outlook of the USD, gold may continue to be under pressure in the coming time, especially when the demand for holding USD is still increasing.
Trade attivo
Nota
niceNota
good
Join my team to get free signal XAUUSD trades with up to 85% winning rate!
Every day, you will receive 5-7 high quality signals, helping you earn a lot of money
Click here to join the group: t.me/+2RkvhgfeFlkzZDZl
Every day, you will receive 5-7 high quality signals, helping you earn a lot of money
Click here to join the group: t.me/+2RkvhgfeFlkzZDZl
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.