Where will gold prices go?
Diupdate
Hello everyone, do you think gold will continue to fall?
Today the gold price continues to decline and the price is trading around 2030 USD.
On our chart analysis: Gold forms an inverted cup and handle pattern. Current support level is 2017 USD. Accordingly, the 10-year US bond interest rate has surpassed 4%/year. This factor has pushed investors to put capital into bonds, meaning very little money flows into precious metals. Today's gold price continues its downward trend, which is inevitable.
In fact, during last night's trading session, the world gold price sometimes reached 2,040 USD/ounce. However, when the USD appreciates and US bond interest rates go up, many people fear that gold prices will go down. Since then, they have tried to sell to recover capital, causing gold prices to decrease and make it difficult to recover.
Today the gold price continues to decline and the price is trading around 2030 USD.
On our chart analysis: Gold forms an inverted cup and handle pattern. Current support level is 2017 USD. Accordingly, the 10-year US bond interest rate has surpassed 4%/year. This factor has pushed investors to put capital into bonds, meaning very little money flows into precious metals. Today's gold price continues its downward trend, which is inevitable.
In fact, during last night's trading session, the world gold price sometimes reached 2,040 USD/ounce. However, when the USD appreciates and US bond interest rates go up, many people fear that gold prices will go down. Since then, they have tried to sell to recover capital, causing gold prices to decrease and make it difficult to recover.
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