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Gold prices drop sharply on dollar rise from Investing.com

© Reuters. Gold futures fell during the US session

Investing.com – fell during the US session on Monday.

According to the New York Mercantile Exchange’s Comex Prices, gold was trading at 1,779.05 an ounce at the time of writing in February, down 1.69%.

It was previously trading in a session lower at USD 1,778.25 an ounce. It could find support at $1758.20 an ounce and resistance at $1822.90 an ounce.

Futures on the dollar index, which measures the performance of the US currency against a basket of six other major currencies, rose 0.78% to 105.31.

Meanwhile, on Comex, the March price fell 3.82% to $22.36 a troy ounce, while the March price fell 1.94% to 3.78 dollars a pound.

Gold Analysis:

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