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Dollar Strength Pushes Gold Down More Than 2%

Technical Analysis
By Mostafa Mahmoud
Dollar Strength Pushes Gold Down More Than 2%
0 6

GOLDذهب 23-6-2026

Gold is trading above the $4,050 support level, with prices likely to decline and target $3,900, while this scenario would be invalidated by a breakout above the $4,350 resistance level in today’s trading.​

Support

 4050​ 3900
Resistance 4350

4500

Gold prices recorded a notable decline, pressured by the strength of the U.S. dollar and increased demand for yield bearing assets, which weighed on the precious metal and pushed it down by more than 2%. The decline came as markets continued to bet on the Federal Reserve maintaining its restrictive monetary policy for a longer period, further supporting the dollar and reducing gold’s appeal to investors. Profit taking activity following previous gains also contributed to the selling pressure on the yellow metal.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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