Gold MAY 2024
Monthly Analysis of Gold (XAU/USD)
Opening Price: $2286.10
Closing Price: $2327.20
Highest Price: $2450.125
Lowest Price: $2277.345
Green Candles: 15
Red Candles: 11
Monthly Pip Range: 172 Pips
Average Daily Range: 22.8 pips
Average True Range (ATR) for the month was 24.5, indicating moderate volatility.
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The release of strong US PMI data and recovering US T-bond yields significantly impacted gold prices.
Renewed US Dollar strength added pressure on gold, making it difficult for XAU/USD to maintain bullish momentum.
Opening Price: $2286.10
Closing Price: $2327.20
Highest Price: $2450.125
Lowest Price: $2277.345
Green Candles: 15
Red Candles: 11
Monthly Pip Range: 172 Pips
Average Daily Range: 22.8 pips
Average True Range (ATR) for the month was 24.5, indicating moderate volatility.
—————————————————————
The release of strong US PMI data and recovering US T-bond yields significantly impacted gold prices.
Renewed US Dollar strength added pressure on gold, making it difficult for XAU/USD to maintain bullish momentum.
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