The USD Takes the Lead, Gold Loses Ground
Hello everyone. Today, Alisa will share her perspective on the current situation of gold. Let’s join in the discussion with Alisa!
Even before superstorm Milton made landfall, the gold market had already "sunk" in a storm of sell-offs. The USD, acting as a "lighthouse" of safety amidst uncertainty, continues to attract capital inflows. The recovery of "Wall Street" has further boosted the allure of the greenback, pushing gold prices to new lows.
Looking at the 4-hour chart, we can clearly see that the downward trend in gold is being reinforced. Although there is support at the 2,608 level, it seems unable to help gold recover as it faces resistance at 2,621. Given the current situation, Alisa believes that gold is likely to continue its downward trajectory, potentially dropping even further.
Today has been another day of significant fluctuations. What do you think about the gold price?
Even before superstorm Milton made landfall, the gold market had already "sunk" in a storm of sell-offs. The USD, acting as a "lighthouse" of safety amidst uncertainty, continues to attract capital inflows. The recovery of "Wall Street" has further boosted the allure of the greenback, pushing gold prices to new lows.
Looking at the 4-hour chart, we can clearly see that the downward trend in gold is being reinforced. Although there is support at the 2,608 level, it seems unable to help gold recover as it faces resistance at 2,621. Given the current situation, Alisa believes that gold is likely to continue its downward trajectory, potentially dropping even further.
Today has been another day of significant fluctuations. What do you think about the gold price?
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