ScopeMarkets

Gold breaks support, with further downside looking likely

Short
Gold has broken into a fresh two-week low, as dollar strength helps drive further weakness for precious metals. Chief Market Analyst Joshua Mahony highlights the potential for further gold downside in the event of dollar strength, with US CPI and ECB providing near-term volatility in the days ahead. From a wider perspective, a dovish reversal in monetary policy would likely benefit gold, but that positive outlook appears to be some way off for now.

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