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XAUUSD ANALYSIS MONDAY 16 MAY 2022

XAUUSD ANALYSIS MONDAY 16 MAY 2022

XAUUSD Analysis Monday

XAUUSD Analysis ( GOLD) in last week was in  steep fall. But not able to sustain below $ 1800 mark . At current levels in the upper $1810s per troy. ounce, gold is trading about 0.2% lower. and looks on course to post a weekly loss of around 3.5%. which would mark a fourth successive week in the red and gold’s worst. weekly performance since June 2021. The main driver of gold weakness. this week has been the strength of the US dollar. with the Dollar Index (DXY) looking on course to close out the week close to multi-decade highs in the upper 104.00s. A stronger US dollar makes USD-denominated commodities like. XAU/USD more expensive for international buyers. If XAUUSD  Analysis sustain below $1800. then more down side towards $1785. and $1775 where as $ 1820 is immediate resistance level. above this mark we can see next level of $ 1830 and $1845.