Gold at its lowest level for 5 weeks as sell pressure intensifies at the US trading session at noon

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(Kitco News) – Gold prices have gradually retreated and hit their lowest level in five weeks on Friday in the United States. Prices also fell below the psychologically important level of $ 1,300.00. A rebound in the US dollar index and a rise in US stock market indices are hurting bulls in the precious metals market. The drop in crude oil prices during the day is also a downside "external market" preventing precious metals. Technical sales are also presented in gold today, while the bullish price trend on the daily bar chart has been reversed and prices are coming closer to a weekly downward decline. A better appetite for risk in the global market at the end of the week adds to the sale of interest in the money and safe haven markets. In April, gold fell from $ 14.20 per ounce to $ 1,301.90.