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For the second day in a row, gold prices are moving in a limited range amid an upward momentum between the $1756 an ounce and $1766 after recent gains pushed it towards the $1780 resistance, its highest level after nearly eight years.
Gold markets have had a wild ride over the last 24 hours, initially dipping down towards the $1760 level before rallying significantly to form quite a bit of a hammer.
Gold markets went back and forth during the trading session on Thursday as we continue to see a lot of volatility.
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Gold has experienced a strong amount of selling early this morning and has come off of its highest value levels.
The gold markets did rally and break out to the upside during the trading session on Wednesday but gave back the gains as we get close to the $1800 level.
Strong weakness of the US dollar and fears of a second wave of the Coronavirus outbreak was enough to push the price of an ounce of gold towards the $1774 resistance
Gold markets have rallied yet again during the trading session on Tuesday, reaching towards the $1785 level towards the end of the pit session.
With the beginning of this week’s trading, gold prices rose to achieve sharp gains that pushed it to the resistance at $1763 an ounce,
Gold markets gapped higher to kick off the week, then pulled back to fill the gap and then rallied again before pulling back yet again.
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Gold markets have rallied significantly during the trading session on Friday, reaching above the $1750 level for the first time in a while.
Gold markets were very volatile during the trading session on Thursday, as we reached towards the $1750 level, but then pulled back rather significantly.
Gold markets have continued to show one thing over the last several months: that they are more than willing to step in and pick up gold every time it dips.
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Gold prices rose to offset the losses of the previous two sessions, as geopolitical tensions and Fed Chairman Jerome Powell's makes cautious statements about the economic recovery.
Gold markets have been choppy during the trading session on Tuesday as Jerome Powell spoke in front of Congress.
In the beginning of this week’s trading, gold price fell to the $1704 support, with a positive shift in the performance of global financial markets, which increased the profit-taking sell-offs.