Gold Price (XAU/USD) remains at a disadvantage of $1,910, with higher US Treasury bond yields and the US Dollar causing a three-week fall. China’s concerns may also impact gold prices, with data from China and the US posing a significant challenge to the XAU/USD’s movements.

Gold price declines at $1,910, a 61.8% Fibonacci retracement of February-May rise, following a three-week drop.

The upside break of an ascending support line and resistance near $1,925 has increased Gold gold price’s bearish slant. Sellers of XAU/USD remain optimistic about future declines due to bearish signals from the Moving Average Convergence and Divergence (MACD) indicator.

The price of gold is on bears’ radar, but bears need confirmation from the 200-DMA to confirm the downside of the quote. If the support-turned-resistance line near $1,925 is broken on a daily basis, the $1,941 resistance confluence, which includes the 50-DMA and Fibonacci retracement, will be the next target.

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