GOLD - INTRADAY UPDATE - 28 SEP
Gold is expected to take a bounce from the 57500 support level.
If gold fails to sustain above 57500, it could fall to touch 57250.
The fall in gold is due to a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision.
Analysis
Gold has been falling in recent days due to a number of factors, including a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision. A stronger US dollar makes gold more expensive for buyers holding other currencies, while higher treasury yields make gold less attractive as an investment. The US Federal Reserve is expected to raise interest rates at its next meeting, which could further dampen demand for gold.
If gold fails to sustain above 57500, it could fall to touch 57250.
The fall in gold is due to a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision.
Analysis
Gold has been falling in recent days due to a number of factors, including a stronger US dollar, higher treasury yields, and the upcoming US Federal Reserve rate decision. A stronger US dollar makes gold more expensive for buyers holding other currencies, while higher treasury yields make gold less attractive as an investment. The US Federal Reserve is expected to raise interest rates at its next meeting, which could further dampen demand for gold.
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