3:32 PM · 4 February 2021

🥇Gold under $ 1800/oz ‼

The prices of precious metals are falling during today's session due to the very strong dollar. It is worth noting that the EURUSD pair fell below 1.20 today. Precious metals are the worst performing group of commodities and are losing over 2% on average. However, gold deserves attention. It drops below $ 1,800 an ounce and falls below the lower limit of the previous largest correction. Closest support is located at $ 1,765 an ounce and the next one around $ 1,720. This level is marked with 38.2% retracement of the entire upward wave from Q3 2018.

Gold is trading under $ 1,800 an ounce for the first time since December. Source: xStation5

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Commodities

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Losses can exceed deposits

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