Gold prices dropped sharply after many days of price increases
The price of gold today continues to maintain a downward trend and is trading around the 1925 USD/ounce mark.
It can be observed that last night, the US dollar had a hot session which put pressure on gold prices, causing them to reach their lowest level in a week.
In the coming period, the price of gold may further decrease to the threshold of 1,900 USD/ounce as the US dollar continues to rise. If on September 13th, the US announces that the inflation index for August has decreased by exactly or lower than estimated at 3.2%, then gold will continue to face difficulties.
It can be observed that last night, the US dollar had a hot session which put pressure on gold prices, causing them to reach their lowest level in a week.
In the coming period, the price of gold may further decrease to the threshold of 1,900 USD/ounce as the US dollar continues to rise. If on September 13th, the US announces that the inflation index for August has decreased by exactly or lower than estimated at 3.2%, then gold will continue to face difficulties.
Comment:
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Comment:
Gold may correct to $1,900/ounce a few more times before turning up again following a long-term USD downtrend.
Comment:
Gold is on the right direction according to the indicator
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