Dear friends!
Currently, gold is trading with a stable recovery above the support level of $2030. At the time of writing, the price is trading at $2047, indicating a significant increase in price at the current time.
On the analysis chart: Gold has broken the support level of $2059 and started a downward trend. Therefore, the stronger US dollar and higher US bond yields are putting pressure on the yellow metal.
Regarding the outlook: Gold is currently experiencing a slight recovery towards the previously broken resistance area. However, with the market still in a downward price control, any breakout action could quickly push gold down to the defensive level of $2020
Currently, gold is trading with a stable recovery above the support level of $2030. At the time of writing, the price is trading at $2047, indicating a significant increase in price at the current time.
On the analysis chart: Gold has broken the support level of $2059 and started a downward trend. Therefore, the stronger US dollar and higher US bond yields are putting pressure on the yellow metal.
Regarding the outlook: Gold is currently experiencing a slight recovery towards the previously broken resistance area. However, with the market still in a downward price control, any breakout action could quickly push gold down to the defensive level of $2020
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