Gold continues its move to the downside as yields and USD moves higher
The price of gold is continuing its move to the downside today with a decline close to $19.Higher US yields and a higher US dollar are helping to push the price lower. Having said that, technically a key swing area is being approached by traders. That area comes between $2009.42 and $2012.74 (see video) It would take a move below that level to have traders looking toward the low for the year at $2001.60 and the natural support level at $2000. This article was written by Greg Michalowski at www.forexlive.com.
The price of gold is continuing its move to the downside today with a decline close to $19.Higher US yields and a higher US dollar are helping to push the price lower.
Having said that, technically a key swing area is being approached by traders. That area comes between $2009.42 and $2012.74 (see video) It would take a move below that level to have traders looking toward the low for the year at $2001.60 and the natural support level at $2000. This article was written by Greg Michalowski at www.forexlive.com.
