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With the beginning of this week's trading, which was mostly quiet due to an American holiday, gold futures rose to the level of 1864 dollars an ounce.
Gold markets were quiet on Monday, which should not be a huge surprise considering that it was Memorial Day in the United States, and futures trading was somewhat limited.
Gold futures enjoyed modest weekly gains, despite slowing US inflation gains and Fed optimism.
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The gold market rallied during the early hours on Friday but gave back gains quite significantly.
Gold markets have fallen initially during the trading session on Thursday but turned around to show signs of life again.
For the second day in a row, the price of gold is exposed to selling operations with losses to the support level of $1842 an ounce and bouncing back from the resistance level of $1870 an ounce.
Gold markets fell rather hard Wednesday as we continue to see a lot of trouble dear the 200-day EMA.
Gold futures contracts continued to achieve their gains, supported by the decline in the price of the US dollar.
For three trading sessions in a row, gold prices continued to rise with gains to the resistance level of 1865 dollars an ounce and settled around the level of 1853 dollars an ounce.
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Gold markets initially tried to rally on Monday but then turned around to show signs of weakness.
Last week’s trading was positive in general for the recovery of the gold price, which moved towards the resistance level of 1858 dollars an ounce at the beginning of this week’s trading.
Gold markets went back and forth on Friday as we continue to see a lot of noise in the markets.
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Gold markets rallied quite significantly during the trading session on Thursday as yields in America fell.
In the middle of this week’s trading, gold tried to rebound higher, but its gains did not exceed the level of $1836.
Gold futures have struggled for direction since this week's trading began as the Federal Reserve revealed its willingness to raise US interest rates as long as necessary to fight inflation.