Gold continues to fall deeply before the rise of USD

After a strong selling session, the gold price today, August 15, continued to be sold by investors in the context of the demand for holding USD heating up, bond interest rates increased sharply.

Gold price today was sold by investors in the context of a series of leading Chinese enterprises doing business at a loss. Since then, international financial investors have increased their demand for shelter in the USD, helping the currency to appreciate very strongly compared to many other currencies, which is detrimental to the gold market.

Due to the appreciation of the USD, the US bond interest rate also jumped to 4.19%/year. This prompted many greenback collectors to buy bonds, making the dollar appreciate even more. Gold price today bears more downward pressure.

Comment:

Due to the appreciation of the USD, the US bond interest rate also jumped to 4.19%/year. This prompted many greenback collectors to buy bonds, making the dollar appreciate even more. Gold price today bears more downward pressure.

Comment:

USD increase will be an indicator for the downtrend of Gold price. The price is currently at a sensitive level so more signals can be watched but the trend of trading strategy still supports selling down.

Comment:

Gold and silver prices edged lower in early trading on Monday, amid quieter US markets and hitting a six-week low.