The gold price is currently testing trend line support
Forward-looking gold volatility has been languishing of late, but it has inched up in the last few trading sessions. This may hint toward some uncertainty within the market and a significant move in price might be in the offing.
Keeping all of this in mind, the yellow metal has held up reasonably well so far, but if these headwinds persist it could be undermined at some point.
Keeping all of this in mind, the yellow metal has held up reasonably well so far, but if these headwinds persist it could be undermined at some point.
Comment:
After the employment survey was released, the US dollar (DXY index) declined due to falling Treasury yields. At the same time, gold prices increased to $1,940, influenced by changes in fixed-income investments.
🔴 SL: 1960
🟢 TP1: 1942
🟢 TP2: 1932
🕯 BUY GOLD | 1918 - 1915
🔴 SL: 1910
🟢 TP1: 1940
🟢 TP2: 1950