Gold Price Fluctuates Strongly As USD Increases
Based on the chart and information you provided, gold prices are under downward pressure due to the continued rise in the USD and the US bond yield rising to 4.25%, which has limited the flow of investment capital into the precious metal. On the chart, after hitting the resistance level around $2,757, gold prices reversed and fell below $2,720.
Currently, gold prices are likely to continue to correct to the support zone around $2,700. If this support zone fails to hold, the price is likely to continue to fall further. However, if the price holds above the support level, there may be a recovery and retest the resistance zone of $2,750-2,760.
Currently, gold prices are likely to continue to correct to the support zone around $2,700. If this support zone fails to hold, the price is likely to continue to fall further. However, if the price holds above the support level, there may be a recovery and retest the resistance zone of $2,750-2,760.
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