Gold price fell, many markets faced many disadvantages

The world gold price has dropped continuously due to positive economic recovery signals from major economies. Japan's GDP growth in Q2 2023 was 6%, surpassing expectations. The USD also strengthened, causing investors to withdraw capital from gold. This has led to a deep decline in gold prices with no immediate chance of reversal.

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USD increase will be an indicator for the downtrend of Gold price. The price is currently at a sensitive level so more signals can be watched but the trend of trading strategy still supports selling down.

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Gold and silver prices edged lower in early trading on Monday, amid quieter US markets and hitting a six-week low.