Gold is Selling Off - XAUUSD goldprice goldrate goldratetoday
XAU/USD prices fell to the $1982 support level, before settling around $1992 an ounce at the time of writing. The last gold market gains affected the $2033 resistance level, its highest level in a year. In general, gold prices began to exit from their weekly gains by 1%, and their rise since the beginning of the year 2023 to date is close to 10%. In the same performance, the price of silver, the sister commodity to gold, fell below the $25 threshold.
Meanwhile, economic data had a muted effect on gold trends. The smaller-than-expected US jobs report for March was still impressive, investors believe that thewill continue to raise interest rates at the Federal Open Market Committee meeting next month. In other metals markets, copper futures fell to $3.9865 a pound. Platinum futures fell to $1003.00 an ounce. Palladium futures fell to $1,404.50 an ounce.
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