Gold is starting the week off on a bad foot while the dollar is looking stronger.
![Gold is starting the week off on a bad foot while the dollar is looking stronger.](https://ussnsimg.moomoo.com/feed_image/70107943/53432f5cc9253cfe888419da73cc859c.jpg/bigmoo)
It is still too early in the week to call it. But the dollar is looking like it wants to make another leg up as of last Friday. This will put downward pressure on gold.
If you are invested in the dollar, then you want to see inflation picking up, or you want to see strong economic data in the U.S. This will add to the bullish sentiment towards the dollar. You definitely do not want to see a rate cut.
![Gold is starting the week off on a bad foot while the dollar is looking stronger.](https://ussnsimg.moomoo.com/feed_image/70107943/b933b902e4123bf0ab11fc958aa23f33.jpg/bigmoo)
![Gold is starting the week off on a bad foot while the dollar is looking stronger.](https://ussnsimg.moomoo.com/feed_image/70107943/39a8132fe02e3d50b5209aed1ef9c85a.jpg/bigmoo)
Gold Securities are at an inflection point. The recent uptick in gold could come to an end soon. Gold needs to hold above the support level within this price channel to remain bullish in the short-term picture. If the dollar takes off, then gold will surely fall below this support.
If you are invested in gold, then you want to see the dollar drop through rate cuts, falling inflation, or poor economic data. A black swan event would be perfect for a gold investor as it would bring back the safe haven appeal of the shiny metal.
![Gold is starting the week off on a bad foot while the dollar is looking stronger.](https://ussnsimg.moomoo.com/feed_image/70107943/d2637d150acc3d49b8a2a9d494a246e4.jpg/bigmoo)
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