📉Gold about to break key support!

3:06 PM November 23, 2020

Gold moves lower after Markit manufacturing data

The stronger than expected Markit manufacturing PMI data (preliminary) for November, has goosed the US dollar higher which negatively affected the price of gold. Precious metal is testing the major support level at $1847/oz. Should sellers manage to break below, then next support at $1805/oz could be at risk.

GOLD, D1 interval. Source: xStation5

Share:
Back

Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for everyone, so please ensure you fully understand all of the risks.

Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits