An improvement in risk sentiment pushed gold sharply lower. Volatility remains elevated across financial markets, Wall Street trims losses. XAU/USD rose earlier today to test mutli-year highs at $1689 but it failed to break higher and the rally lost some strength. Recently it spiked to the downside falling more than $40 in a few minutes. It bottomed at $1642. As of writing it trades at $1667, marginally lower for the day. The move lower took place amid a recovery of the greenback against majors and as equity prices in Wall Street rebounded, trimming losses. Volatility across financial markets remains elevated with sharp bounces. The Dow Jones is down now just 2.12% and the Nadaq 2.41%. Crude oil collapses almost 9%. Emerging market assets are under pressure. Technical levels A consolidation below $1660 would suggest an extension of the bearish correction, with next support levels seen at $1648 and $1635. On the upside, the critical level continues to be the area around $1690, the multi-year high. Above the mentioned level, gold should test $1700. 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 White House looking to defer taxes for travel and airline industries – WP FX Street 3 years An improvement in risk sentiment pushed gold sharply lower. Volatility remains elevated across financial markets, Wall Street trims losses. XAU/USD rose earlier today to test mutli-year highs at $1689 but it failed to break higher and the rally lost some strength. Recently it spiked to the downside falling more than $40 in a few minutes. It bottomed at $1642. As of writing it trades at $1667, marginally lower for the day. The move lower took place amid a recovery of the greenback against majors and as equity prices in Wall Street rebounded, trimming losses. Volatility across financial markets remains elevated… 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.
