Gold Forecast: Markets Suffer at the Hands of the USD

The US dollar continues to be a bit like a wrecking ball, although gold has its place in this type of environment. 

  • Gold markets have fallen a bit during the trading session on Tuesday as it looks like we are going to test the $1700 level.
  • If the market were to break down below the $1700 level, it’s likely that we will continue to see negative pressure, perhaps opening the possibility of a move down to the $1680 level.
  • That’s where we had bounced from previously, and it should offer a significant amount of support.

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