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Last week was disastrous for the price of an ounce of gold, as prices fell from the resistance level of 1854 dollars to the support level of 1780 dollars per ounce.
Gold markets fell significantly on Friday to reach down towards the $1780 level.
Gold markets gapped lower to kick off the trading session on Thursday to show a massive amount of negative pressure.
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The natural gains of the US dollar after the US Federal Reserve indicated the date for raising US interest rates.
The gold markets were very noisy on Wednesday as you would anticipate, due to the fact that it was the FOMC meeting and everything that goes along with that.
The collapse of global stock markets, military tensions between Russia and Ukraine, and skirmishes in the Middle East are factors that supported the price of gold in the upward movement.
Gold markets initially pulled back a bit on Tuesday but found enough support underneath to continue going higher.
During the beginning of this week's trading, gold prices continued to rise, as investors sought to buy safe assets amid intense selling in global stock markets.
Gold markets went back and forth on Monday as we continue to see a lot of volatility in general.
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Amid inflation concerns and a drop in cryptocurrency prices, the price of gold rebounded, posting the biggest rise in three months to its best level since November.
Gold markets fell a bit on Friday to reach down towards the $1831 level.
Gold markets initially shot higher during the trading session on Thursday again, but now look as if the momentum is starting to run out.
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Amidst the best daily performance of the gold price in more than two months, the price of an ounce of gold moved yesterday, starting from the level of $ 1810, towards the resistance level of $ 1844 per ounce.
There is no doubt that the return of the US dollar’s recovery is an important factor to stop the pace of the recent gains in the price of an ounce of gold.
Gold markets were extraordinarily volatile in a session that featured a lot of fear.