Gold dips to six-month low on elevated US bond yields
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Gold continued to decline today, with no signs from the market that can halt the downward trend of this precious metal. Currently, the price is fluctuating around the low range of $1865, the lowest figure in the past 6 months.
It is predicted that gold will continue to decrease significantly with insignificant recoveries. Selling gold remains a favored trend today.
Support levels: $1,858; $1,845; $1,832.
Resistance levels: $1,871; $1,884; $1,895.
Gold continued to decline today, with no signs from the market that can halt the downward trend of this precious metal. Currently, the price is fluctuating around the low range of $1865, the lowest figure in the past 6 months.
It is predicted that gold will continue to decrease significantly with insignificant recoveries. Selling gold remains a favored trend today.
Support levels: $1,858; $1,845; $1,832.
Resistance levels: $1,871; $1,884; $1,895.
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good luck everyone <3
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Fears that the Fed's drastic stance will push the economy into recession will support gold prices to increase. However, the timing of gold price increases will depend greatly on upcoming US economic data.
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