Gold continues to fall deeply, long-term sell entry, target 1955
World gold prices decreased this morning with spot gold down 13.5 USD to 1,977.5 USD/ounce. Gold futures last traded at 1,988.6 USD/ounce, down 10.6 USD compared to yesterday morning's gold.
During the first trading session of the week, safe-haven metals came under pressure as risk appetite among investors and traders increased. According to experts, weak safe-haven demand combined with interest rate expectations are factors holding back gold. Since the Israel-Hamas conflict broke out, safe-haven buying has helped gold gain 7%. However, according to Kitco Metals senior analyst Jim Wyckoff, risk appetite is improving and there are no major unexpected developments from the Israel-Hammas conflict that is gaining its safe-haven appeal for investors. of gold.
Unusually high central bank buying may help explain why gold prices have remained resilient despite downward pressure from the strength of the dollar and rising bond yields so far this year.
During the first trading session of the week, safe-haven metals came under pressure as risk appetite among investors and traders increased. According to experts, weak safe-haven demand combined with interest rate expectations are factors holding back gold. Since the Israel-Hamas conflict broke out, safe-haven buying has helped gold gain 7%. However, according to Kitco Metals senior analyst Jim Wyckoff, risk appetite is improving and there are no major unexpected developments from the Israel-Hammas conflict that is gaining its safe-haven appeal for investors. of gold.
Unusually high central bank buying may help explain why gold prices have remained resilient despite downward pressure from the strength of the dollar and rising bond yields so far this year.
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Related Ideas
🟢TP1: 1965
🟢TP2:1955
❌SL: 1988