Gold Prices Dip Below $2,340 Amid Political Easing
The price of gold (XAU/USD) continued its steady decline throughout the day, dropping below the $2,340 mark in Monday's US trading session. Reduced political tensions led to a deep adjustment in XAU/USD, while the looming possibility of a bond yield recovery in the United States further weighed on this currency pair.
From a technical standpoint, the XAU/USD chart indicates a potential reversal in price action. Technical analysis suggests that gold prices may test the SMA 20 area in the short term before resuming their downward trajectory. This presents an opportunity for investors to consider and engage in short-term trading within this range.
From a technical standpoint, the XAU/USD chart indicates a potential reversal in price action. Technical analysis suggests that gold prices may test the SMA 20 area in the short term before resuming their downward trajectory. This presents an opportunity for investors to consider and engage in short-term trading within this range.
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