On the morning of April 30, the world gold price fell to 3,318 USD/ounce, down 20 USD compared to the same time the previous day. The strong increase in USD and high US bond yields at 4.23% made gold lose its appeal in the eyes of investors.
The recovery of US stocks and the decline in oil prices further depressed market sentiment. On the H4 chart, gold has not yet escaped the sideways zone around EMA34 - a sign that buying power is weakening.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.