Latest gold price update today: Gold price decreased
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Brian greets you all!
The price of gold continues to decline today, currently trading at a low price of $1900 due to selling pressure caused by the strengthening of the US dollar (USD) ahead of highly anticipated inflation data on Friday.
Looking at the 4-hour chart, Gold has dropped without finding support at $1905. It wouldn't be surprising if gold continues to test lower levels with prospects from the Fibonacci retracement. $1890 is a perfect number with strong support, indicating the potential for a price rebound from this level.
The price of gold continues to decline today, currently trading at a low price of $1900 due to selling pressure caused by the strengthening of the US dollar (USD) ahead of highly anticipated inflation data on Friday.
Looking at the 4-hour chart, Gold has dropped without finding support at $1905. It wouldn't be surprising if gold continues to test lower levels with prospects from the Fibonacci retracement. $1890 is a perfect number with strong support, indicating the potential for a price rebound from this level.
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good luckNot
The USD soared in value as investors were frightened by the commitment of major central banks to maintain high interest rates and control inflation.Not
According to CME Group's Fedwatch tool, traders see a nearly 82% chance that interest rates will stabilize at 5.25 - 5.50% at the November monetary policy meeting.Not
Gold fell as indicated, reaching a low at 1891 USDNot
Gold remains under pressure below $1,900 amid stronger USDNot
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Minneapolis Fed President Neel Kashkari raised the possibility of needing to raise interest rates "in a meaningful way" to deal with inflation.
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