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Gold Price Latest - Bears Continue to Maul Gold Towards S1,700/oz


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Gold Price Latest - Bears Continue to Maul Gold Towards S1,700/oz.

Aug 22, 2022 | DailyFX
Nick Cawley, Strategist

GOLD PRICE (XAU/USD), CHART, AND ANALYSIS

  • US dollar moving higher as risk markets take a turn lower.
  • Gold eyes $1,700/oz. or lower on renewed rate fears.

The daily gold chart is rolling over with little in the way of support before $1,700/oz. comes into view. Minor support at $1,721/oz. (September 2021 double-low) may slow gold’s trajectory lower, as may the CCI indicator which sits in oversold territory.

GOLD DAILY PRICE CHART – AUGUST 22, 2022

Gold Price Latest - Bears Continue to Maul Gold Towards S1,700/oz.

 

What is your view on Gold – bullish or bearish?

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