Stronger US dollar pushed gold prices to the downside. XUA/USD broke key short-term support and tumbled to the lowest since November 16. Gold turned to the downside and accelerated after breaking a relevant technical level and amid a broad-based US dollar strength. The greenback rose after a report signaled that US President Trump could impose as soon as next week, a 25% tariff in all imported cars. The yellow metal fell from $1,220 and bottomed at $1,213.10, the lowest level since November 16. Price stands near the lows under pressure. The move to the downside gained speed after the price dropped under the key short-term support located around $1,220 that capped the slide during the previous days. The outlook from a technical perspective favors the downside. The DXY reached the highest level in ten days at 97.38 and now stands at the highs, with the bullish tone intact. The greenback also trimmed losses versus commodity currencies. XAU/USD Levels to watch To the downside, below daily lows support levels are seen at $1,211, $1,207 and the $1,200 zone. On the upside, now $1,220 is the immediate resistance followed by $1,225 and $1,235. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD speculators’ long positions have edged down slightly – Rabobank FX Street 4 years Stronger US dollar pushed gold prices to the downside. XUA/USD broke key short-term support and tumbled to the lowest since November 16. Gold turned to the downside and accelerated after breaking a relevant technical level and amid a broad-based US dollar strength. The greenback rose after a report signaled that US President Trump could impose as soon as next week, a 25% tariff in all imported cars. The yellow metal fell from $1,220 and bottomed at $1,213.10, the lowest level since November 16. Price stands near the lows under pressure. The move to the downside gained speed… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
