Lihat juga
14.06.2021 01:55 PM
Spot gold accelerated a further drop losing 1% in Asia / early Europe trading on Monday and adding to Friday's 1.1% drop.
The stronger dollar keeps the metal under pressure as investors are turning focus to Fed's policy meeting later this week.
The market sees recent spikes in inflation as a temporary happening that reduced demand for the yellow metal, used as a hedge against inflation. However, slight optimism that the Fed policymakers may start discussions about tapering and possibly hint changes in the monetary policy amid improving economic conditions could further reinforce the greenback.
Fresh bears cracked important support at $1,855 (June 4 trough), a break of which would complete a failure swing pattern on the daily chart and signal further weakness.
Extension of a pullback from $1,916 (June 1 peak) would face pivotal supports at $1,840 and $1,825 (Fibo 38.2% of $1,677/$19,16 upleg) with a break here to confirm a trend reversal.
Rising bearish momentum and south-heading RSI / stochastic on daily chart support the near-term action. Upticks need to hold below $1,877 (bull-trendline off $1,855 higher low) to keep fresh bears in play.
Res: 1,866, 1,877, 1,883, 1,888
Sup: 1,855, 1,840, 1,825, 1,815
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
