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May, 2 - gold is losing price very quickly

Just a little less than 24 hours ago Jerome Powell – the head of American treasury stated that he sees no reason for the USA to raise interest rates on dollar loans. And that can only mean one thing – dollar is doing just fine. And traders all over the world felt that. It is perfectly visible in the growth of the greenback that we can see today. But when dollar goes up what assets will 100 percent go down? That’s right! Gold! And this precious metals feels pressure like no other asset.

 

gold 2.05.2019

 

The chart shows the movements that gold made since the markets opened up today. It is clear that per-ounce price of metal is dropping dramatically. Of course there is no saying that dollar is going to have enough power in it in order to pressure the metal further but this is the tendency for now.

 

For how long will gold go on with losing price? Get to know it with our trading signals!

 

 

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