Gold prioritizes short selling
Updated
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Gold prices today are still being negatively impacted in the market as the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, is at 105.685 points (a decrease of 0.09%). The "hawkish" signals from Federal Reserve Chairman Powell on Friday have weighed down gold, as this precious metal is currently lacking supportive factors.
The downward trend continues to serve as an opportunity for short-selling traders. There may be a slight recovery, but it will only play a role as a corrective trend because selling gold remains the top priority strategy in the current situation.
Gold prices today are still being negatively impacted in the market as the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, is at 105.685 points (a decrease of 0.09%). The "hawkish" signals from Federal Reserve Chairman Powell on Friday have weighed down gold, as this precious metal is currently lacking supportive factors.
The downward trend continues to serve as an opportunity for short-selling traders. There may be a slight recovery, but it will only play a role as a corrective trend because selling gold remains the top priority strategy in the current situation.
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