Gold is in a strong support level
Currently Gold is in a strong support level but fundamental analysis is stating Gold will still be selling off. I'm still holding my sell from 1974.32.
The price of Gold found some support near the US$1,700 mark. Still, Gold has not lived up to its reputation as a store of value amid rising inflation and investors have turned to bonds and the dollar for protection from risk.
The dollar rose, making Gold more expensive for international buyers. The ICE dollar index was last seen up 0.52 points to 107.2.
Bond yields edged higher, bearish for gold since it offers no interest. The US 10-year note was last seen paying 3.032%, up 0.8 basis points.
The price of Gold found some support near the US$1,700 mark. Still, Gold has not lived up to its reputation as a store of value amid rising inflation and investors have turned to bonds and the dollar for protection from risk.
The dollar rose, making Gold more expensive for international buyers. The ICE dollar index was last seen up 0.52 points to 107.2.
Bond yields edged higher, bearish for gold since it offers no interest. The US 10-year note was last seen paying 3.032%, up 0.8 basis points.
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