Gold prices dipped lower on Wednesday to hit six-week low and continue to trade lower on Thursday morning as the dollar continued its strength. Gold is
Gold prices dipped lower on Wednesday to hit six-week low and continue to trade lower on Thursday morning as the dollar continued its strength. Gold is trading at $1259.50, down -0.48% as of 9:30 GMT.
According to reports – the GOP leadership in the House and Senate want to pass a bill that would extend the government shutdown deadline to Dec. 22 from Dec. 8.
Technical view
Gold 4H chart has formed a “Right-angled broadening ascending” pattern. As per the technical aspects, gold prices broke below the previous low at $1260 which signals a bearish momentum.
Gold 4H Chart
Resistance holds at $1270. The fall is expected to continue further towards $1250 – $1255 in the upcoming days.
