Gold price today: Unexpected drop
Hello everyone !
Gold continues its downward trend today, following the decline since the beginning of the week, with prices currently hovering around $2,908.
The primary reasons for this drop are the rising U.S. Treasury yields and profit-taking by investors. Right now, the market's attention is focused on the upcoming U.S. jobs report and non-farm payroll data, which could provide clues about the Federal Reserve’s (FED) monetary policy stance amid escalating global trade tensions.
"Unless a new catalyst emerges, the current trend could push gold even lower. If the price breaks below $2,900, it may signal further declines toward $2,880, aligning with the lower boundary of the price channel".
Happy trading and best of luck !
Gold continues its downward trend today, following the decline since the beginning of the week, with prices currently hovering around $2,908.
The primary reasons for this drop are the rising U.S. Treasury yields and profit-taking by investors. Right now, the market's attention is focused on the upcoming U.S. jobs report and non-farm payroll data, which could provide clues about the Federal Reserve’s (FED) monetary policy stance amid escalating global trade tensions.
"Unless a new catalyst emerges, the current trend could push gold even lower. If the price breaks below $2,900, it may signal further declines toward $2,880, aligning with the lower boundary of the price channel".
Happy trading and best of luck !
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⭐️I are here to help you make money:
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✅ Consulting on gold, foreign exchange ...
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✅Det your account
✅ Consulting on gold, foreign exchange ...
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.