Will the world gold price increase after many days of decline?
In the near term, and according to the 4-hour chart, the falling EMAs lead to lower levels, now providing dynamic resistance around $1920.30.
The longer moving averages are still much higher than the shorter ones, while providing a downward slope, while technical indicators have bounced from intraday lows but are still in the zone. negative. pole.
In the end, the positive Wall Street tone finally interrupted the USD rally, helping XAU/USD recover from the aforementioned low, although modest gains among stocks capped the downside. US currency.
The longer moving averages are still much higher than the shorter ones, while providing a downward slope, while technical indicators have bounced from intraday lows but are still in the zone. negative. pole.
In the end, the positive Wall Street tone finally interrupted the USD rally, helping XAU/USD recover from the aforementioned low, although modest gains among stocks capped the downside. US currency.
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.
Comment:
In the long-term, the USD is considered difficult to escape the downward trend because the Fed reverses monetary policy and the payment power of the greenback declines when many big countries, including China and Russia, are withdrawing from the market. gradually the USD out of transactions.
