Gold is still under selling pressure above 1,900 USD
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Today, gold prices continued to struggle to reach the price level of around 1,915 USD in the early trading session on Tuesday. The precious metal remains weighed down by a recovery in the US dollar and higher US bond yields.
The outlook for XAUUSD is bearish. Looking at the technical picture on the 4-hour timeframe, we can see that the main trend of gold is currently down after breaking the support zone. It is expected to fall to the indicated level after rising again.
Today, gold prices continued to struggle to reach the price level of around 1,915 USD in the early trading session on Tuesday. The precious metal remains weighed down by a recovery in the US dollar and higher US bond yields.
The outlook for XAUUSD is bearish. Looking at the technical picture on the 4-hour timeframe, we can see that the main trend of gold is currently down after breaking the support zone. It is expected to fall to the indicated level after rising again.
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The hawkish stance of the US Federal Reserve (Fed) at the recent monetary policy meeting will continue to be a catalyst to push bond yields and the USD higher, putting great pressure on precious metals.코멘트
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