OANDA:XAUUSD   Gold Spot / U.S. Dollar
In the gold chart, you can see that today it is at an important support, at the price of 1893.90. We also have the weekly support, which, due to the selling pressure and psychological factors, may be touched by gold today or during this week. And on the other hand, there is a support point, which gold is currently at (1903.92), which may prevent gold from continuing its downward trend for the time being. As I said before, gold has a strong dependence on various commercial and Asian news all over the world, and of course its most significant dependence is on the dollar. On the other hand, any change in the state of the dollar will have a direct and inverse effect on the price of the dollar.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.