Malaysia Gold price today: Gold rises, according to FXStreet data
Gold advances but remains on track for weekly decline
Gold slumps below $5,100 as US Dollar gains
The weekly chart is currently showing as a bearish engulf in gold and this stands in stark contrast to how the week had started, with an initial rally on the back of geopolitical tensions that saw the metal press up to the $5400 level, albeit temporarily. That level is where the music stopped on the long side as prices then began a pullback that eventually drove back to a clean re-test of the $5k psychological level on Tuesday morning which, so far, has held the lows for the week.
Gold tumbles below $5,100 on strong US Dollar, Treasury yields
Gold price retreats as oil-driven inflation fears push yields higher and reduce Fed cut bets. Gold analysis shows $5002.31 support critical for the gold price future.
Gold chops near $5,100 with the 50-day EMA rising at $4,867. A double-top breakdown below $4,600 would measure $900 of downside.
Gold met the targets at 5249 and 5130 and moved lower. As we see over the chart, the market is facing resistance around 5225, and if prices remain below it, the drop pressure could return towards 5065 as more of a drop is expected.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
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