DailyForex analysts monitor the gold market regularly to bring you gold price predictions and gold market forecasts that can help you find the best positions in the gold market.
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At the beginning of this week’s trading, the price of gold rose by up to 1.4% to a new historical record level of $2,450 per ounce.
The gold market shot higher during the Monday trading session, as news got out that the Iranian president was killed in a helicopter crash.
Gold futures are approaching record highs again as gold prices rise despite a steady US dollar and rising Treasury yields.
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Gold has pulled back from the crucial $2,400 level during trading on Thursday, which is an area that has been important multiple times.
Gold prices surged near the key psychological resistance of $2,400 per ounce (oz) today, trading at their highest level in nearly a month.
Gold prices are consolidating near $2360 an ounce as investors turn their attention to US inflation reports due this week.
Gold prices have declined to around $2,332 an ounce as of the start of trading this week. This is as investor focus shifts to key US inflation reports
With the start of this week’s trading, gold prices rose near $2,360 per ounce.
Gold has been somewhat choppy during the early hours on Thursday, which quite frankly is a repeat of the last several days in a row.
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Gold was rather choppy during the early hours on Wednesday, but we do still have a significant amount of support below that comes into the picture to offer a bit of a potential buying opportunity.
May 09, 2023. Gold Forecast and Analysis of the price of gold XAU/USD today
Gold prices are consolidating around $2320 an ounce today.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices rose above $2328 an ounce today, Tuesday, supported by renewed hopes that the Federal Reserve will start cutting US interest rates this year, after weaker-than-expected job growth in the United States.
Gold futures remained flat at the end of the trading week and settled above the $2,300 level per ounce.
Gold was all over the place during the trading session on Friday as the jobs numbers came out lower than anticipated.