Gold MAY 2024

Monthly Analysis of Gold (XAU/USD)

Opening Price: $2286.10
Closing Price: $2327.20

Highest Price: $2450.125
Lowest Price: $2277.345

Green Candles: 15
Red Candles: 11

Monthly Pip Range: 172 Pips
Average Daily Range: 22.8 pips

Average True Range (ATR) for the month was 24.5, indicating moderate volatility.

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The release of strong US PMI data and recovering US T-bond yields significantly impacted gold prices.

Renewed US Dollar strength added pressure on gold, making it difficult for XAU/USD to maintain bullish momentum.