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Gold on the brink as dollar continues to run hot

The dollar continues to sit in a commanding position in trading this week and that is weighing further on gold today. The yellow metal is down 0.4% to $1,935 levels now as sellers are contesting key technical support at the moment:The 100-day moving average (red line) at $1,936.66 and 50.0 Fib retracement level of the swing higher from March to May at $1,935.84 are both being challenged. And a break below that region is going to set off the next downside leg in gold towards the $1,900 mark.It's... Read More

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Gold

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Dollar

Continues

Forex

Posted: May 30 2023, 05:46

Author Name: forexlive

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