Gold price is exposed to profit taking sales. Trade Gold market here
According to the trading, the XAU/USD gold price fell to the support level at $1985 an ounce, before settling around the $1990 level at the time of writing the analysis.
Gold prices also failed to benefit from the greenback's decline as the US Dollar Index fell 0.06% to 102.37 from an opening of 102.43. The gold market in general is sensitive to price movements as they can affect the opportunity cost of holding non-yielding bullion. According to expectations, the XAU/USD gold price may continue to decline until the financial markets get a clear indication that market pressures have started from debt ceiling talks, regional banking concerns, or steady inflation that is weighing on the consumer.
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