Gold strategy today: Still discount
Hello Everyone !
Gold prices have slipped to $2,320, retreating from their two-week high of around $2,368, seen during early Asian trading on Monday.
This drop follows the stronger-than-expected U.S. Purchasing Managers’ Index (PMI) released last Friday, which has put pressure on the precious metal.
On the technical front, gold has hit the lower boundary of its parallel ascending channel. However, I anticipate a breakout from this level, potentially leading to further declines in the near future.
What are your thoughts on this? Share your insights!
Gold prices have slipped to $2,320, retreating from their two-week high of around $2,368, seen during early Asian trading on Monday.
This drop follows the stronger-than-expected U.S. Purchasing Managers’ Index (PMI) released last Friday, which has put pressure on the precious metal.
On the technical front, gold has hit the lower boundary of its parallel ascending channel. However, I anticipate a breakout from this level, potentially leading to further declines in the near future.
What are your thoughts on this? Share your insights!
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