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Gold in a bit of a pickle after yesterday's drop

With there looking to be a risk rotation in play (perhaps ahead of month-end/quarter-end), gold is failing to find much comfort despite lower bond yields. The yellow metal dropped by 0.7% yesterday but more importantly, it took out a key support level on the chart. The 100-day moving average (red line) had been a key point for buyers to lean on in the past few weeks but that has now been broken.There is still some semblance of support from the 50.0 Fib retracement level of the swing higher from... Read More

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Posted: Jun 21 2023, 04:22

Author Name: forexlive

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