Is gold price at risk of falling deeper?
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Hello dear friends! Let's learn about the gold market today!
Today, gold prices continued their downward trend, briefly approaching 1981 levels in early Monday trading hours.
Gold is slipping under pressure from the recovery of the USD and rising bond yields. Currently, it has surpassed the $1992 support level and is yet to be taken back. The next downside price target is below 1959 USD and 1938 USD, which could happen if the adverse economic situation for gold continues and the support level of 1977 USD is broken by gold sellers.
Today, gold prices continued their downward trend, briefly approaching 1981 levels in early Monday trading hours.
Gold is slipping under pressure from the recovery of the USD and rising bond yields. Currently, it has surpassed the $1992 support level and is yet to be taken back. The next downside price target is below 1959 USD and 1938 USD, which could happen if the adverse economic situation for gold continues and the support level of 1977 USD is broken by gold sellers.
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