Hello everyone — what are your thoughts on 
XAUUSD ?
As expected, gold broke below its support zone yesterday and triggered a strong wave of selling. The precious metal fell below the $5,000 level and dropped by nearly $180, at one point approaching the $4,800 area.
So far, gold has shown a slight rebound from $4,800, which marks the lowest level since February 6.
The main driver behind the decline is the U.S. Producer Price Index (PPI) for February, which rose 0.7% month-over-month, significantly higher than the forecast of 0.3%. This data signals increasing inflationary pressure, reducing expectations for monetary policy easing.
Meanwhile, developments in the Middle East may create further uncertainty for the U.S. economy. It is still too early to determine how the ongoing conflict will impact gold in the longer term.
From a technical perspective, multiple support breaks have already occurred, and this time is no exception. The trendline remains intact, and the path of least resistance for gold continues to point downward.
What do you think about XAUUSD? Feel free to share your thoughts!
XAUUSD ?As expected, gold broke below its support zone yesterday and triggered a strong wave of selling. The precious metal fell below the $5,000 level and dropped by nearly $180, at one point approaching the $4,800 area.
So far, gold has shown a slight rebound from $4,800, which marks the lowest level since February 6.
The main driver behind the decline is the U.S. Producer Price Index (PPI) for February, which rose 0.7% month-over-month, significantly higher than the forecast of 0.3%. This data signals increasing inflationary pressure, reducing expectations for monetary policy easing.
Meanwhile, developments in the Middle East may create further uncertainty for the U.S. economy. It is still too early to determine how the ongoing conflict will impact gold in the longer term.
From a technical perspective, multiple support breaks have already occurred, and this time is no exception. The trendline remains intact, and the path of least resistance for gold continues to point downward.
What do you think about XAUUSD? Feel free to share your thoughts!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.