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The price of an ounce of gold pushed to the $1900 resistance at the beginning of this week's trading, but quickly retreated to the $1869 support before stabilizing around the $1879 level as of this writing.
The gold markets tried to rally during the trading session on Monday in what would have been very thin trading.
With the continued pressure on the US dollar, gold had the opportunity to move higher and reach the $1883 resistance.
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Gold markets rallied during the trading session on Thursday, heading into the Christmas season.
Gold markets have recently been drifting lower, pulling back from the $2100 level which was the recent high.
With the near closure of markets for the holidays, the price of gold is expected to move in a limited range with an upward tendency.
Gold markets rallied during the trading session on Wednesday, breaking above the 50-day EMA yet again.
Selling operations by investors to close 2020 contracts contributed to stopping gold gains that pushed it at the beginning of this week’s trading to the resistance level at $1907 an ounce.
The gold market fell during the trading session on Tuesday, reaching down towards the 50-day EMA, just as we saw in the silver market.
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There was a strong fluctuation in gold's performance at the beginning of this week's trading as it jumped to the resistance level at $1906 an ounce, followed by selloffs to the support level at $1855 an ounce.
Gold markets have fluctuated during the trading session on Monday to kick off the week, as we started off with a bang.
Investors are returning to risk aversion amid new global restrictions to contain the coronavirus outbreak and the emergence of more widespread strains of the disease in conjunction with the annual holiday season.
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The gold market fluctuated during the trading session on Friday as people focus on the holidays.
Gold markets rallied significantly during the trading session on Thursday, reaching towards the $1900 level before pulling back.
Sharp losses in the US dollar were a major factor in the rise of gold and silver futures, especially after the conclusion of the monetary policy meeting of the US Federal Reserve Board.