Gold Pressured By Higher Dollar And Yield
Gold monthly view is down by about 5%, trading around $1714 an unce and heading lower for about four months in the row, testing the bracket lows in the median-term balanced price range for buyers. The lower macro value extreme might be targeted by sellers which is confluent with the monthly EMA50. The rising US Government yield might be a pressure factor as well as the rising dollar. Volatility is seemingly slightly bullish for the market in today’s session.
(Click on image to enlarge)
More By This Author:
Inflation Accelerated 9.1%, Let Dollar Surge By Potential Further Rate Hikes
E-Mini S&P 500 Pressured By Recession, Inflation And Monetary Concerns
Australia Hikes Interest Rate By 50bps To 1.35%
Visit our trading community to read more market insights and to learn the more in-depth analysis process with various tools such ...
more