Gold is falling today, so what are the reasons

Gold at the basic level

Gold prices fell on Tuesday for the second day in a row, and one of the main reasons for this decline was the postponement of US President Donald Trump to impose heavy tariffs on Europe, as well as a slight recovery of the US dollar.

But investors are still worried amid the surrounding uncertainty due to Trump's trade policies, fears of a deterioration in the US financial situation, and continuing geopolitical risks.

Moreover, bets that the Fed will cut interest may limit any tangible appreciation of the US dollar, and serve as a support for the price of non-yielding gold. Therefore, any subsequent decline of gold may be perceived as a buying opportunity.

Gold at the technical level

Gold retreated near the levels of 3300 dollars per ounce after breaking the ascending price channel on the four-hour frame, and gold is currently heading to visit the support levels of 3279 dollars, from which we can start buying gold for the purpose of Correction to target the levels of 3320 dollars.

In case of a further decline, the following support levels near the levels of 3250/45 dollars per ounce will be the best buying areas in the near term, and then we target the levels of 3277 and 3320 dollars per ounce.