Gold falls to 3-week low
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
