Gold Price Recoil From Chart Resistance as the US Dollar Strengthens
Summary
By sueyangfx.com October 13, 2020 at 07:06AM Gold prices retreated from chart resistance level at the 50-Day Simple Moving Average (SMA) as haven demand fueled a rally in the US Dollar, weighing on precious metal prices.
More On DailyFX - Market News
- US Dollar Price Action: Hawkish Powell and Potential Month-End USD Buying
- British Pound Falls, US Dollar Soars on Fed. Will Boris Johnson Issues Drag GBP/USD?
- British Pound Falls, US Dollar Soars on Fed. Will Boris Johnson Issues Drag GBP/USD?
- Gold Price Crumbles After Hawkish Fed Boosted US Dollar. Where to for XAU/USD?
- Supportive USD Fundamentals and DXY Setup Ahead of FOMC
October 13, 2020 at 07:06AM
Gold prices retreated from chart resistance level at the 50-Day Simple Moving Average (SMA) as haven demand fueled a rally in the US Dollar, weighing on precious metal prices.