FX.co ★ king.zelda | XAU/USD, GOLD

GOLD. Just falling short of the round level of $3500 (at least on the Instaforex company chart) per troy ounce, the price of gold made a reversal to the downside yesterday. Today, it continued the decline with a significant gap. Instead of three and a half thousand, the price indicator is now hovering below the 3300 XAUUSD mark. A drop of over two hundred dollars in a day is a substantial decrease. I would say this is already a signal for further weakening of buyer dominance. Despite the apparent continuation of the uptrend, I would not risk entering the market with buy orders. I am inclined towards a bearish development.