05/06 - Gold continues to fall under the pressure of the Fed
Diupdate
The future of gold does not look bright due to the strong US economy, which could lead to the Federal Reserve raising interest rates later this year.
As a result, gold and silver prices fell as the US dollar and Treasury yields rose.
Recent nonfarm payrolls data suggests interest rates could stay high for longer, which could drive gold prices down further.
Money managers have become less optimistic and if Treasury yields continue to rise, gold prices could continue to fall.
Gold price has dipped below the key trendline support and could reach $1,875 if it dips below the May low at around $1,932.
I'm looking at two short-term price zones: buying gold 1941-1944 and selling gold in the price range from 1968-1971
What do you think about the gold price today?
As a result, gold and silver prices fell as the US dollar and Treasury yields rose.
Recent nonfarm payrolls data suggests interest rates could stay high for longer, which could drive gold prices down further.
Money managers have become less optimistic and if Treasury yields continue to rise, gold prices could continue to fall.
Gold price has dipped below the key trendline support and could reach $1,875 if it dips below the May low at around $1,932.
I'm looking at two short-term price zones: buying gold 1941-1944 and selling gold in the price range from 1968-1971
What do you think about the gold price today?
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