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Gold markets exhibited indecisiveness during Wednesday's trading session, hovering just below the crucial 50-Day EMA.
For the second day in a row, XAU/USD gold price is trying to rebound to the upside to compensate for its recent sharp losses.
During Tuesday's trading session, gold markets experienced a slight pullback, causing a breakdown towards the $1950 level.
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XAU/USD Gold Futures fell during the quiet Memorial Day holiday session.
By the end of last week's trading, the XAU/USD gold price retreated from its session high at around $1957 an ounce, to trade at around $1937
The gold market witnessed a hesitant trading session on Friday, initially attempting to rally before succumbing to the pressures of higher rates in the bond markets and the strengthening US dollar.
Gold markets encountered a significant test as they hovered around the $1960 level, probing a major uptrend line during the recent trading session.
Gold futures fell in the middle of the trading week amid increasing US dollar strength. Investors resorted to the dollar during the debt ceiling crisis.
During Wednesday's trading session, the gold market experienced a slight rally, reaching the 50-Day Exponential Moving Average.
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The continued gains of the US dollar still contribute to increasing the bearish momentum of XAU/USD gold prices.
Gold markets experienced significant negative pressure during Tuesday's trading session, with the market testing the important $1950 level.
The continued gains of the US dollar, with momentum from expectations of raising US interest rates, is a negative factor for the XAU/USD gold price.
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Sign up to get the latest market updates and free signals directly to your inbox.The gold market witnessed a back-and-forth trading session on Monday, as the 50-Day Exponential Moving Average (EMA) acted as a significant resistance level.
XAU/USD gold price completed on Friday an upward breach, after falling to the support level at $1952 an ounce, its lowest in six weeks.
Gold markets displayed an initial rally during Friday's trading session; however, hesitation emerged as the 50-day Exponential Moving Average (EMA) continued to exert its influence.