CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

🥇Gold hits over 3-month high📈

16:51 17 May 2021

⬆Precious metal near major resistance at $1870/oz

Gold prices reached the highest level since beginning of February on Monday, amid a weaker dollar and a fall in Treasury yields. It seems that after the recent sharp drops in Bitcoin's price, investors have turned their attention back to gold, which is definitely a more stable asset. Precious metal price managed to break above upper limit of the descending channel and is approaching major resistance at $1870/oz. This level is marked with the upper limit of the 1:1 structure and the 50.0 % Fibonacci retracement of the recent downward move. Should break higher occur, then upward move may accelerate towards next resistance at $1958/oz. On the other hand, if sellers will manage to regain control, then nearest major support is located around $1760/oz.

Gold D1 interval. Source: xStation5

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