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Gold has a key level on the radar this morning
On June 30 Gold fell as low as $3,943.29. That was the lowest level for the metal since it surged to $5,595.47 back on January 29. The price action yesterday saw the metal fall below $4k once more and that delivered a low at $3,669.37 ahead of a US close, at $3,976.50.
Earlier this morning the metal came very close to the low seen yesterday, but so far it has held. At the same time, there is little doubt that June 30 low is very much on the radar ahead of the weekend and if taken out, it could so easily extend on the downside. That said, Gold should be supported by the mounting risk-off dynamic, but the problem is all about assets and losses in tech right now forcing sellers to abandon the metal once again.
The high seen earlier today was set at $4,008.70. Gold is currently trading at $3,981.10
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