Gold Retests Support at 2320-2325 with Dollar Strength
With the strengthening of the dollar, the yellow metal retested the major support level around the 2320-2325 range.
Read MoreWith the strengthening of the dollar, the yellow metal retested the major support level around the 2320-2325 range.
Read MoreIn the four-hour chart, gold has been exhibiting relatively muted movements around the 200-period moving average, with hawkish comments from Fed members seemingly dampening the momentum of the rebound from the 2325 level.
Read MoreYesterday, gold responded with an upward move to the news flow containing geopolitical tensions, breaking above the 200-period moving average on the 4-hour chart.
Read MoreAlthough the peak was refreshed last week, gold experienced a decrease of approximately $120 due to the dollar's gain in strength and relatively calm news flow, failing to sustain above this peak.
Read MoreGold prices made a comeback on Friday, even though the US dollar was on the rise.
Read MoreFor the XAU/USD pair, following its failure to maintain levels above its recent high and breaking below the triangle formation, the price of 2351 emerges as crucial.
Read MoreGold is currently in a corrective phase within its upward trend channel.
Read MoreFollowing the news of the Iranian President’s helicopter crash, the yellow metal began the week by testing the 2450 level before experiencing a pullback.
Read MoreGold, silver, and copper prices increased to record highs due to economic uncertainty and geopolitical tensions alongside the cooling trend in US inflation.
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