Gold prices settle at their lowest level of the year as the dollar index climbs toward a 20-year high

Gold has fallen below the key $1,800-an-ounce level to settle at its lowest price so far this year.

Silver also ended at a two-year low.

This is on back of a rise in the U.S. dollar index toward a 20-year high.

Naeem Aslam, chief market analyst at AvaTrade, blamed the dollar’s moves for driving price action in gold.

Meanwhile, Jim Wyckoff, senior analyst at Kitco.com, said technical indicators in recent trade for both gold and silver are now “fully bearish.”

At the current prices, gold and silver are “good long-term bargains”.

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