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Orbex: Gold Drops as $2K Becomes Resistance! #marketinsights

Started by PocketOption, May 20, 2023, 06:14 am

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PocketOption

Orbex: Gold Drops as $2K Becomes Resistance! #marketinsights

Market Insights

Gold dropped below the psychological $2K level as a firm dollar, and Treasury yields remained on the front foot.


With debt-ceiling negotiations continuing, the threat of potential defaults has pushed up treasury yields.


Will Gold now see firm resistance at $2k, or is a reversal around the corner?


Timestamps

XAUUSD 01:30

DXY 03:05


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