Gold bar and US dollar bill amid Gold is Currently Facing Selling Pressure While the Dollar is Stabilizing
Gold prices have registered weekly losses for the second consecutive week, falling more than 1.4% to trade at $1980 per ounce, which is its lowest level in three weeks.
The dollar index has slightly risen and settled above 101.40 levels, following recent statements by Fed’s officials that indicate their support for a potential increase in interest rates during the next May meeting.
Expectations for the Fed to raise interest rates by 25 basis points next month have risen to 80%.
This material provides real-time market analysis from contributing analysts. Please note that any views expressed in this material do not constitute operational advice. It is important to assess your risk tolerance and make independent trading decisions. STARTRADER holds no responsibility for any trading consequences that may arise from relying on the views expressed in this material.
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