Gold price moves sideways waiting for a new breakthrough

Hello everyone. This morning, the gold market continued its downward trend, trading around the price range of 1909-1910 USD/ounce with few indications of the next move for gold. After breaking through the psychological resistance level of 1915 USD, it seems that gold is now seeking a new bottom below a lower price range. It is possible that gold may decline to 1900 usd before making any significant progress.

Today we will have news about gold, so please be cautious and pay more attention to the market. Good luck!

הערה:

good luck

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“While core prices were also slightly stronger than last month, there were few reports that convinced Fed officials that they needed to raise interest rates further.

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Andrew Hunter - Deputy Director of US Economics at Capital Economics assessed that the latest inflation data is not enough to convince the Fed to maintain its positive monetary policies.

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Gold price has dropped to the support zone

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Gold today had a rebound to 1911usd after falling to the support zone and rebounding.