December 10, 2022

Forex Solution

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Gold weighed down by dollar strength

1 min read

Gold’s rebound runs into sellers

The US dollar has held a strong bid all day but gold held its ground for a time. In the last few minutes though, the sellers have finally gotten the upper hand.

Gold is now down $13 on the day to $1774, cutting through the low of US trading.

The S1770 level is the next one to watch on my chart, offering some support at the low of the week.

Gold's rebound runs into sellers

As for me, I don’t believe in this flow-driven dollar move today but there’s no good reason to buy gold either.

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