Recently, gold has faced some challenges due to the increase in the value of the USD and an upsurge in real yields. As a result, gold prices have retreated from their recent highs and are approaching critical daily support levels.
The primary concern here is if the trend of US rates becomes more aggressive, which could lead to a rise in the value of the USD and real yields. Furthermore, any additional USD bids could potentially weaken gold, which are typical challenges that gold faces.
Quality analysis and explanation of this scenario. Even if the opposite happens, the idea is well explained and that's all it matters in terms of technical analysis.
TheCryptagon
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Very good study and solid update. Continue publishing great content!