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XAUUSD News

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Last Updated Date: 29 June 2021 @ 6:16 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was down on Tuesday morning in Asia, remaining close to the one-week low hut during the previous session and is set for its worst month since 2016. A strengthening dollar and concerns over whether the U.S. Federal Reserve would tighten its monetary policy sooner than expected also weighed on the yellow metal.

Overall the market remains in the bear trend and still within the framework of sideways lower flagging congestion. Corrections that fail to close over 1790.0 keeps the trend bias down. A close under 1764.0 would open up a downturn for a larger bear wave to 1731.0. A close over 1785.0 or pop over 1794.0 reverses out of the downturn and starts a drive to 1803.0. 

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