⚡️Gold hit 6 month lows Wednesday as the $1,900-an-ounce support in place since early August crumbled amid a continued flow of investment money from the yellow metal towards the dollar and Treasury yields.
⚡️US bond interest rates increased by 4.6%, the green currency continued to receive support from the Fed, plus the fund sold off nearly 5 tons of gold, causing gold prices to plummet.
⚡️The Fed had raised interest rates 11 times between February 2022 and July 2023, adding a total of 5.25 percentage points to a prior base rate of just 0.25%.
⚡️In the speech of the former Fed chairman, he affirmed that he will further increase interest rates when necessary. Gold is facing many disadvantages. Perhaps gold will fall even deeper.
⚡️SELL
XAUUSD
PRICE 1879 -1882
↠↠ STop 1890 → Profit 1868
⚡️BUY
XAUUSD
PRICE 1865 -1868
↠↠ STop 1860→Profit 1880
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
⚡️US bond interest rates increased by 4.6%, the green currency continued to receive support from the Fed, plus the fund sold off nearly 5 tons of gold, causing gold prices to plummet.
⚡️The Fed had raised interest rates 11 times between February 2022 and July 2023, adding a total of 5.25 percentage points to a prior base rate of just 0.25%.
⚡️In the speech of the former Fed chairman, he affirmed that he will further increase interest rates when necessary. Gold is facing many disadvantages. Perhaps gold will fall even deeper.
⚡️SELL
XAUUSD
PRICE 1879 -1882 ↠↠ STop 1890 → Profit 1868
⚡️BUY
XAUUSD
PRICE 1865 -1868 ↠↠ STop 1860→Profit 1880
⚡️Psychology, discipline and capital management are the three factors that make victory possible.⚡️
Comment:
⚡️ Gold price (XAU/USD) remains under selling pressure during the early European session on Thursday. The downtick of the precious metal is supported by the stronger US Dollar (USD) and higher Treasury yields. Gold price currently trades around $1,876
Comment:
⚡️Gold prices rose slightly in the early hours of Thursday's Asian session due to a slight weakening of the US dollar. Spot gold has a specific price of 1,876.63 USD/ounce.
Trade active
Comment:
⚡️Gold fell to near 7-month lows Thursday as traders pushed the yellow toward mid $1,800 levels in a decisive break from the $1,900-an-ounce support decimated in the prior session.
Trade active
Comment:
⚡️Gold is recovering
Trade active
Comment:
⚡️ DXY stabilized above 106, gold continued to fall sharply.
Trade active
Trade active
Comment:
⚡️ Bond yields, dollar seen pressuring gold further despite retreat
Trade active
Trade active
Comment:
⚡️Everything is going according to plan
Comment:
⚡️Gold sank to a 7-month low on Monday, hanging on to the ropes of $1,800 support, as the dollar hit 10-month highs instead
