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The gold markets fell during the trading session on Friday, dipping down below the 200-day EMA.
Gold markets broke down during the trading session on Thursday to reach down towards the 200 day EMA.
At the beginning of Thursday's trading, the price of gold stabilized around the $1835 level after the dollar's decline had pushed it towards the resistance level of $1855.
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The gold markets rallied a bit during the trading session on Wednesday but continue to see a significant amount of resistance above the 50-day EMA as there is a bit of selling near the $1850 level.
Gold markets initially rallied during the trading session on Tuesday to reach towards the $1850 level.
Gold markets initially rallied during the trading session on Tuesday to reach towards the $1850 level.
For three trading sessions in a row, gold benefited from the weakness of the US dollar after the disappointing US employment figures were released.
The gold markets recaptured the 200-day EMA during the trading session on Monday to kick off the week on a positive note.
The US dollar's strength contributed to the decline in the price of gold, which breached the $1800 support level, reaching a 2-month low at $1785.
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The gold markets rallied slightly during the trading session on Friday as the US dollar lost a little bit of strength.
The gold markets have broken down significantly during the course of the trading session on Thursday to slice through the 200 day EMA quite handily.
Gold has been in a downward correction range for three sessions in a row, ultimately falling to the support level at $1815 in early trading today.
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Gold markets did very little during the trading session on Wednesday, which is a good thing, considering just how negative the Tuesday session was.
Gold is being sold amid the recovery of the US dollar, with gold falling to the $1830 level before settling around $1844 as of this writing.
The gold market got absolutely hammered during the trading session on Tuesday following the “short squeeze” in silver that retail traders attempted to cause in the markets.