Or / Dollar Américain
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XAUUSD: Gold breaks the nearest bottom

At the end of Wednesday's trading session, spot gold contracts decreased 1.3% to 1,875.79 USD/oz. Gold futures contracts lost 1.4% to 1,893.5 USD/oz.

The prospect of higher US interest rates for longer has sent investors flocking to the safe-haven dollar, making gold more expensive for foreign buyers.

Contributing to reducing the attractiveness of gold, US Government bond yields also still fluctuate near a 16-year peak.

“As long as the higher-for-longer-term narrative persists, it will continue to pressure precious metals,” said Ryan McKay, commodity strategist at TD Securities. Falling below 1,900 USD/oz led to technical selling pressure.

“If inflation data continues to be strong, that will be another thing that is negative for gold,” Mr. McKay said.
Note
XAUUSD BUY LIMIT 1970 - 1972

TP: 1980

SL: 1965
Note
XAUUSD: The downward momentum is still there

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