Gold Spot / U.S. Dollar
Short
Updated

What is gold showing?

346
Hello smart traders!

Today, on the 1-hour time frame, gold has formed a price gap at a high of $1842 during today's trading session. Gold has coincidentally broken down below, leading to a decrease in the Dow. Overall, gold may retest a support level and continue its upward trend.

Gold has been oversold from a technical standpoint and seems to be stabilizing around the 1820/ounce level. The US dollar and silver bond yields appear to be pausing after a strong rally. This could potentially be the driving force to continue pushing gold higher.

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Note
increased 25.3 USD to 1860.9 USD/ounce. Currently trading at 1864 USD

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