XAUUSD - Gold turns down, selling strategy today

The radiant world gold price has decreased slightly with spot gold down 0.7 USD to 1,973 USD/ounce compared to yesterday morning. Gold futures last traded at $1,987.80 per ounce, down $6.60 from the previous week's trading session.

At the end of today's trading session, gold prices fell slightly, ending the impressive increase to nearly 2,000 USD in last week's session, when the conflict in the Middle East continued to escalate with no signs of cooling down.

Gold prices have risen about 9% in the past two weeks as investors seek to hedge against the risk of escalating tensions in the Hamas-Israel conflict.

Forex.com senior market strategist James Stanley also expects gold to decline. He explained, gold has increased too quickly in the past two weeks. So, a window may be triggered this week.

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