Forex News Hubb
Advertisement
  • Home
  • Global Financial Market
  • Trading News
  • Contact us
No Result
View All Result
  • Home
  • Global Financial Market
  • Trading News
  • Contact us
No Result
View All Result
Forex News Hubb
No Result
View All Result
Home Global Financial Market

XAU/USD hits daily lows under $1,800

admin by admin
December 28, 2022
in Global Financial Market


  • A stronger US Dollar and higher US yields sent gold prices below $1,800.
  • Next support is a short-term uptrend line around $1,795.
  • US stocks turn negative, adding support to the Dollar.

Gold prices extended losses during the American session and printed a fresh daily low at $1,797. Currently, XAU/USD is hovering around $1,800 with a bearish bias.

A slide back under $1,800 would make gold vulnerable to a decline to test an uptrend line around $1,795. A break below could trigger more losses, to the $1,785 zone. Below the next support is located at $1,773 (Dec 15 & 16 low).

On the upside, Gold faces immediate resistance at $1,805. A break above $1,810 would improve the short-term outlook for the yellow metal. The critical level continues to be $1,820: a consolidation above would add a new support for a test of $1,830.

Dollar strengthens

The slide in Gold took place as equity prices in Wall Street turned negative and amid a rebound in US yields to fresh daily highs. The context weighed on XAU/USD. The US Dollar Index rose from the lowest level in almost a week at 103.84 to 104.45, the strongest since Friday.

Silver is falling by 1.80% and crude oil tumbles 2%. The Dow Jones is losing 0.53% and the Nasdaq 0.95%.

XAU/USD 4-hour chart 

 



Source link

Tags: GoldMetalsXAUUSD
Previous Post

Pound 2023 Outlook – Orbex Forex Trading Blog

Next Post

Is Intraday Trading Profitable?

Next Post

Is Intraday Trading Profitable?

Recommended

Treasury Yields Rally And Recession Fears Abate. No Fed Pause in June?

May 21, 2023

Stochastic Supply and Demand Forex Trading Strategy

January 14, 2023

Don't miss it

Global Financial Market

Nasdaq 100, Dow Jones, US Dollar, Gold, Debt Ceiling, NFPs, AI Frenzy

May 29, 2023
Global Financial Market

USD/CAD rebounds from 1.3600 as US White House reaches bipartisan with Republicans

May 28, 2023
Trading News

S&P500 is Trading Flat: What’s Next? |

May 28, 2023
Trading News

NZDUSD Intermediate Impulse Begins! – Orbex Forex Trading Blog

May 28, 2023
Trading News

How to Invest in Web3 and Make Money in the Best Way Online?

May 28, 2023
Global Financial Market

EUR/USD Recovery Hinges on Debt Ceiling Deal

May 28, 2023
FOREX WHITE@8x (1)

© Forex News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Global Financial Market
  • Trading News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Global Financial Market
  • Trading News
  • Contact us

© 2022 Forex News Hubb All rights reserved.