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Gold markets experienced a slight bounce during Friday's trading session, finding support at the 61.8% Fibonacci retracement level.
Gold experienced a decline early on Thursday as downward pressure continued to weigh on the market.
XAU/USD gold prices fell to the support level of $1919 an ounce during yesterday's trading, before prices stabilized around $1935 an ounce at the time of writing.
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During Wednesday's trading session, gold markets experienced further declines, nearing the lower end of recent support levels.
After a quiet and stable start in the shadow of the American holiday XAU/USD gold futures fell below $1950, with losses affecting the support level at $1930 an ounce.
The gold market experienced a significant decline on Tuesday, primarily due to the strengthening US dollar.
With the start of this week's trading, the XAU/USD gold price tried to maintain attempts to rebound to the upside, which pushed it towards the resistance level of $1967 an ounce.
Gold experienced a slight decline during Monday's trading session, although it is important to note that it coincided with Juneteenth, a major holiday in the United States.
The US Federal Reserve still abandoned the tightening policy temporarily, as it kept the US interest rate unchanged last week.
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A surge of momentum entered the gold markets during Friday's trading session, propelling the precious metal to brush against the 50-Day Exponential Moving Average.
Gold markets experienced a downturn during Thursday's trading session, breaking through the lower limit of the consolidation area that has been prevalent for several weeks.
Although the US dollar declined after announcing that US interest rates would remain unchanged as expected, the XAU/USD gold price was subjected to selling operations
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Sign up to get the latest market updates and free signals directly to your inbox.The Gold market witnessed a rally during the trading session on Wednesday as traders keenly awaited the Federal Reserve statement.
Gold futures rose after the annual inflation rate in the United States continued to decline, which made financial markets expect the Federal Reserve to leave US interest rates unchanged on Wednesday.
Gold markets exhibited a back-and-forth movement during Tuesday's trading session, hovering around the 50-Day Exponential Moving Average once again.