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Gold futures fell at the end of last week’s trading and settled around the $1732 level after gains boosted it to $1758, its highest in a month-and-a-half.
The gold markets initially fell during the trading session on Friday but then turned around to show signs of life at the bottom of the range of the candlestick from Thursday.
The gold markets have broken out above the $1750 level during the trading session on Thursday to reach towards the 50 day EMA.
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Gold's bullish attempts hit their limit at $1745, where the price has settled as of this writing.
The gold markets initially had pulled back a bit during the trading session on Wednesday but then turned around to show signs of strength again.
Investors abandoning the dollar was an opportunity for the price of gold to move higher, but its gains did not exceed the resistance level of $1745, where it is stable as of this writing.
Gold markets rallied again during the trading session on Tuesday as we continue to see the US dollar slump slightly after the recent rally in yields.
Despite the decline of the US dollar with the return of traders from the holiday, the price of gold only rose to the $1733 level before settling around $1728 as of this writing.
The gold markets have gone back and forth during the course of the trading session on Monday, as traders are starting to take a look at the yields again in America,
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The British pound fluctuated during the quiet Good Friday session, but at the end of the day we are looking at a market that is simply consolidating above the 1.3750 level.
The gold markets have recently formed a little bit of a “double bottom”, and that could be the beginning of something rather interesting.
The price of gold has been trying to rebound upward, but the gains of the bounce did not exceed the $1730 level, instead stabilizing around $1725 in this week's trading.
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After the bears pushed the price of gold to the $1678 support level during yesterday's trading, gold has returned to settle around $1713 as of this writing.
Gold markets have rallied significantly during the trading session on Wednesday to see the market vaults above the $1700 level.