View full page at metalsmine.com

 

Gold Price Forecast: XAU/USD bears extending the bear cycle ahead of critical US CPI

From fxstreet.com

Gold is back under pressure and establishing fresh lows for the week within the bearish cycle as markets flip risk-off in the latter part of the New York session with the Dow printing fresh lows and down 1% at the time of writing. In turn, the US dollar is climbing the board in a correction as per the DXY index. At $1,725.00, gold is down 0.5% while DXY is moving back towards a flat position for the day at 108.15. The US dollar's strength comes ahead of this week's key US inflation data, both of which are headwinds for the US stock market during the earnings season. Should the US dollar continue on its bullish ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis