Gold price fell more than 1.5% today and precious metal is currently testing major support at $1681 /oz, amid strong dollar and US treasury yields soared to a new 14-month high amid expectations of a huge US economic rebound on the back of fiscal spending and as vaccination gathers pace. Also, concerns regarding a broad fallout from the exposure to losses at Archegos Capital Management eased.
Gold fell sharply during today's session. If sellers will manage to break below $1681 level, then downward move may accelerate towards next support at $1641. Source: xStation5
US Open: Nasdaq, gold and silver surge following... an interest rate hike (17.09.2026)
Chart of the day 🔼 Gold rebounds 1.3% despite hawkish Fed stance (17.09.2026)
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls
Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.