Yesterday, the USD reached an impressive high exemplifying its dominance compared to other currencies. Index that tracks the dollar against the euro, yen, sterling and three other currencies touched 96.794. Oil prices were supported over decreased production from top producer Saudi Arabia but corrected lower later on.
Also, yesterday Gold prices continued to plunge, pressured by rising geopolitical uncertainty and a stronger US dollar. Anyway, if the selling interest persists then the precious metal may break the 1186.47 support barrier and aim lower for the 1180.00 support hurdle. On the other side, we could see gold aiming for the 1192.31 resistance level and even break it aiming for the 1198.42 resistance barrier.