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XAU/USD gold futures rebounded after early weakness as the price of gold fell to $1,900 per ounce before prices stabilized around $1,928 per ounce as the US dollar lost ground.
Gold markets have fallen initially during the trading session on Tuesday but found a lot of strength later in the day to turn around and form a massive hammer.
At the start of this week's trading, gold futures struggled to hold $1,920 an ounce as it snapped its longest weekly winning streak since August 2020.
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Gold markets initially trying to rally during the training session on Monday, but we continue to see a bit of hesitation just above.
At the end of last week's trading, gold futures were stable, with the pressure of the US dollar on the price of the precious metal.
Gold markets have initially fallen during the trading session on Monday, where we had reached the $1920 level, and then ended up bouncing.
Gold markets are behaving very much like stock markets, in the sense that they are simply grinding higher, and are not giving much in the way of an entry possibility for those of us who did not jump on it right away.
The continued weakening of the price of the US dollar remains supportive of the price of an ounce of gold XAU/USD in moving towards important resistance levels.
The bulls’ control over the performance of the XAU/USD gold price still exists.
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At the beginning of this week's trading, XAU/USD gold prices declined.
Gold markets have gone back and forth during the choppy Monday session as we continue to see a lot of hesitation at this point.
The trading week begins with the bulls dominating the direction of gold, XAU/USD, with gains that reached the $1937 resistance level, the highest for the yellow metal in months.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold markets have done very little during the trading session on Friday, as we are hanging around the $1930 level.
Gold markets have rallied a bit during the trading session on Thursday again, as we continue to see quite a bit of aggressive buying on each dip.
After three consecutive trading sessions, the XAU/USD gold price was subjected to profit-taking sales.