Gold Technical Analysis: Breaking Through Crucial Support

Gold is about to collapse as the US dollar rises, with Federal Reserve Chairman Jerome Powell getting another term as head of the world's most powerful financial institution. This is another example of the rollercoaster ride that gold markets have suffered in 2021. Gold futures are down more than 2.06%, hitting $1,802.50 before the price of gold settled around $1,806 at the time of writing. Gold prices fell about 2% last week, but are still on track to post a tepid monthly gain of 0.65%. Gold is still down more than 4% YTD.