At this point, the $1750 level below there could be the gateway to much cheaper pricing. Quite honestly, the ten-year yield proceeds to grow. This is lethal for gold markets as people will pursue yield over the metal.
Moreover, it pushes up the cost of the US dollar, and that, of course, can create significant problems as well. 10-year note to proceed to work versus the gold market.
If it does break down under the $1750 level, the market is expected to go downhill at least a few hundred dollars, as it will free up the trapdoor to much more lowering prices.
The Gold market will proceed to be very loud
It is anticipated at that point, and we would presumably go gazing towards the $1500 level.
On the other hand, if we jump from here, then it is possible that we will go looking towards the 50 days EMA, which is more like the $1850 level, and then maybe the $1900 level.
Finally, this market will proceed to be very loud, but the fundamental level here is the $1750 level. If we can hold over that level, we could be making some basing pattern for a longer-term move.
However, at this point, It is thought that it is a bit hard to hop in and place that bet. We have witnessed so much in the way of boisterous behavior. In addition, of course, the bond market remains to grab the attention of traders all around the world.
Resting still or expecting a daily close below that level are the two best trades that you can catch right now.