Gold prices are getting close to the 1170 dollar support level

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Source: Exness Forex Broker 

Sell on level breakthrough of 1170 with 1160 and 1143 targets. Stop loss = 1180.

Reason for the trading strategy

Since early June, the yield on US 10-year bonds rose from 2.12% to 2.34%, supporting the US dollar. Gold prices decline, winning back good US macroeconomic statistics. At the level breakthrough of $1170, opening short positions in gold should be considered.

Gold Chart

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