GOLD slides from ATH pressured by strengthening US dollar

GOLD prices are pressured today by stronger US dollar today (USDIDX gains almost 0.5%). Gold has fallen lmost 0.5% from ATH reached yesterday after the Fed decision, however the sell-off driven by profit taking has been stopped at important $3030 level; now GOLD loses 'only' 0.3%. The sell-off has been stopped at important level, where we can see a numerous price reactions and 38.2 Fibonacci retracement of the last rising wave, started in a week ago.Chinese media informed that investors should be cautious on gold, amid rising volatility risk (China Securities Journal).

Source: xStation5

The US Dollar (USDIDX) is strenghtening since yesterday. Today US macro data came in favor for the US Dollar, with jobless claims slightly below expectations, at healthy 223k level, while Philadelphia Fed came in strongher than expected at 12 vs 9 exp. on Wall Street.

Source: xStation5