S&P 5005,963+0.54%
NASDAQ21,443+0.87%
DOW43,892+0.31%
DAX23,888+0.44%
FTSE 1008,721-0.12%
EUR/USD1.1465+0.07%
GBP/USD1.3220+0.14%
USD/JPY161.31-0.03%
Gold3,241+0.22%
WTI Oil76.40+0.81%
Bitcoin103,241+1.43%
10Y UST4.47%-9bp
S&P 5005,963+0.54%
NASDAQ21,443+0.87%
DOW43,892+0.31%
DAX23,888+0.44%
FTSE 1008,721-0.12%
EUR/USD1.1465+0.07%
GBP/USD1.3220+0.14%
USD/JPY161.31-0.03%
Gold3,241+0.22%
WTI Oil76.40+0.81%
Bitcoin103,241+1.43%
10Y UST4.47%-9bp
MarketsFN
Commodities

A weak Gold is testing May low in area 1,930 $/oz

MarketsFN Team

β€’1 min read
A weak Gold is testing May low in area 1,930 $/oz

The shiny metal is testing last month low in area 1,930. The commodity had been quite weak recently with 5 consecutive losing session, including this one. XAU/USD is losing at the moment 0.5% at 1,932.3 $/OZ. If selling pressure would continue probably gold will test area 1,900 (61.8% Fibonacci support of the uptrend February-May 2023). Positive market sentiment should came back if the commodity will manage to rise above both 21 day SMA and 55 day EMA in area 1,970.

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