OctaFX | OctaFX Forex Broker
Open trading account

Gold drops sharply, new multi-year low

FXStreet (Bali) - Gold just dropped $9 in the blink of an eye, printing a new multi-year low at $1,132.00.

After breaking below $1,160.00 key support area, the bearish bias in gold has been reinforced, with all the timeframes aligning for a continuation of the downtrend, as the market continues to price in early Fed rate hikes.

According to Chris Capre, Founder at 2ndSkies: "A break below the current yearly lows ~1139 put 1000 and 1070 under focus." The main interest for Gold traders today will be the US NFP outcome, in which solid figures are expected for October.

NZD/USD testing bids around 0.7660

NZD/USD is under pressure as the pair started the day at 0.7689 and dipped towards 0.7660 during late Asian hours. Bearish dynamic is gaining traction
Read more Previous

EUR/USD glued to 1.2773 ahead of NFP report

EUR/USD have been trapped in a narrow range limited by 1.2370 on the downside and 1.2386 on the upside after having started the day at 1.2374.
Read more Next
Start livechat