GOLD CONTINUES TO DECLINE, WILL THERE BE A REVERSAL IN THE NEAR Hello valued readers, this article will provide you with accurate news and predictions about today's gold market.
The world gold price has generally decreased by -0.71% over the past 24 hours, corresponding to a decrease of -16.58 USD/Ounce. Information regarding inflation indices in the US has adversely impacted the financial markets. Wall Street has witnessed a downward trend upon opening, with no signs of easing price pressures in the world's largest economy.
The Gold chart on the 4-hour timeframe, used to assess short-term trends, is showing a series of decreasing peaks and troughs, indicating a short-term downtrend and a tendency towards selling rather than buying.
However, the medium and long-term trends of the precious metal continue to rise, indicating a high likelihood of recovery. A decisive breakthrough back into the upward trend is needed.