Gold prices faced suppression influenced by US bond yields. The price of spot gold initially dipped below $1,920, hitting an intraday low of $1,913.97 before the US market opened. Ultimately, it managed to approach the $1,920 mark but still concluded with a 0.53% decline, settling at $1,920.08 per ounce. This marked the third consecutive day of negative closures. Silver prices displayed a V-shaped pattern, plummeting to an intraday low of $22.81 prior to the US market’s opening, then staging a recovery to recoup all losses and closing with a 0.7% increase at $23.4 per ounce.
Crude oil prices exhibited fluctuating gains. WTI crude oil briefly dipped to an intraday low of $88.34 during the European trading session but later rebounded above $90. It ultimately closed with a 0.38% gain at $89.53 per barrel. Brent crude oil, on the other hand, concluded with a marginal 0.04% increase at $93.19 per barrel.
The three major US stock indices encountered significant downward pressure, opening and closing at lower levels. The Dow index experienced a 1.08% decline, the Nasdaq closed with a 1.82% drop, and the S&P 500 recorded a 1.64% decrease, marking its most substantial one-day decline in the past six months. Notably, Amazon saw a decline of over 4%, while Nvidia and Tesla both experienced drops of over 2%.
In contrast, European stocks generally ended the day with gains. Germany’s DAX30 index closed down by 1.33%, the UK’s FTSE 100 index recorded a 0.69% decline, and Europe’s Stoxx 50 index concluded with a 1.48% decrease.
Buy XAUUSD within the price range of 1908-1910
Set a Stop Loss at 1906
Target Take Profit 1 at 1920
Consider Take Profit 2 at 1935
Also, Take Profit 3 at 1940
Sell XAUUSD within the price range of 1927-1930
Implement a Stop Loss at 1933
Aim for Take Profit 1 at 1920
Consider Take Profit 2 at 1915
Additionally, Take Profit 3 at 1910
Please ensure that you adhere to capital management principles by risking only 1% of your account and avoiding risking more than 5% of your account within the nearest 10 price levels. In all trading situations, it is essential to set stop-loss orders (SL) and carefully monitor trades based on your current capital.
World News || Latest News || U.S. News