Latest development3 months ago
Gold Posts 2.5% Weekly Decline as Technical Pressure Mounts
The precious metal marks its second consecutive weekly loss despite a minor recovery attempt during Friday's session.
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Gold prices declined early in the week due to a stronger US dollar and high interest rates, further pressured by the emergence of a technical 'Death Cross' pattern. Despite a slight bounce and attempts to hold support levels on Friday, gold ended the week down 2.5%. This performance marks the second consecutive weekly decline for the precious metal.
The precious metal marks its second consecutive weekly loss despite a minor recovery attempt during Friday's session.
Read the full storyGold shows slight stability in early Friday trading as it attempts to hold support levels despite a bearish technical signal.
Gold prices declined in early Monday trading driven by a stronger US dollar and high interest rates, as a technical 'Death Cross' signals further downside risks.