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Gold markets initially pulled back just a bit during the trading session on Tuesday, to reach down towards the crucial $1900 level.
For five trading sessions in a row, gold prices are moving in a limited range between $1883 an ounce and $1919 and stabilizes around $1902 an ounce at the time of writing.
The gold markets initially rallied during the trading session on Monday to kick off the week, as the US dollar got sold off in Asian trading.
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The US dollar strength is still preventing gold prices from benefiting from the global anxiety of the second coronavirus wave, while the stimulus talks for the US economy have stopped.
Gold markets have initially tried to rally during the trading session on Friday but gave back the gains above the 50 day EMA.
Gold markets pulled back a bit during the trading session on Thursday, slicing through the $1900 level.
The decline of the US currency was a long-awaited catalyst, and therefore the opportunity was better for the yellow metal to rise,
Gold markets have rallied a bit during the trading session on Wednesday as the $1900 level has been important yet again.
The recovery of the US dollar was a good reason for the retreat of gold prices to the $1882 support at the beginning of Wednesday’s trading, before the price of the yellow metal stabilized around $1897 an ounce at the time of writing.
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The gold markets broke down significantly during the trading session on Tuesday, slicing through the 50 day EMA.
Gold prices settled higher at the beginning of this week’s trading, despite gains being modest, as optimism regarding the fiscal stimulus law limited the bullishness of the yellow metal.
Gold markets gapped higher to kick off the trading week, breaking out above the highs of the Friday session, only to turn around and find the bottom of the gap yet again.
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The decline of the US currency was a long-awaited catalyst, and therefore the opportunity was better for the yellow metal to rise.
Gold markets have rallied significantly during the trading session on Friday, breaking above the 50 day EMA.
Gold markets rallied just a bit during the trading session here on Thursday but continue to struggle with the idea of getting above the gap.