From TradingView · · 30s
Gold Price Drops Below 4,200
Gold price drops below 4,200 as downside pressure builds.
In brief
Gold price drops below 4,200 as downside pressure builds. Gold price dropped below 4,200 due to rejection of resistance levels and stronger U.S. inflation data. Originally reported by TradingView.
Gold Rejection
Gold shows repeated rejection from 4,180, 4,200 resistance area.
U.S. Inflation Data
Recent hot U.S. inflation data strengthened expectations for a more hawkish Federal Reserve.
Current Gold Price
Gold recovered toward 4,175, 4,185 as Treasury yields eased.
Key Support Levels
4,140 as first key support and 4,110 as next downside area.
In short
Gold price dropped below 4,200 due to rejection of resistance levels and stronger U.S. inflation data.
