During the session on April 22, gold prices adjusted sharply down after failing to rise above the resistance level at $2,400 and currently the precious metal is trading around the $2,330 threshold. The reason for this partly comes from the easing of tensions in the Middle East, causing demand for shelter assets to weaken. In addition, the strong increase of the USD recently when the market is concerned that the Fed may continue to maintain high interest rates in the near future has also hindered the increase in gold prices.
Today, the US PMI will be announced and if this data continues to be higher than expected, it will cause the USD to increase sharply.