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Gold markets have initially fallen on Thursday but found enough support near the 200 day EMA to turn around and go positive for the session.
The US dollar's gains stopped, which helped gold prices move upwards, stabilizing around the level of $1808 as of this writing.
The gold markets rallied a bit on Wednesday, as we continue to hang around the $1800 level.
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Gold prices failed to maintain their recent gains, reaching the resistance level of $1815, then selling off to the support level of $1785, where it has settled as of this writing.
Gold markets gapped lower to kick off the trading session on Tuesday, but then turned around to reach towards the 200 day EMA above.
Although global central banks announced as one to tighten monetary policy, including those who actually raised interest rates, at the same time, appetite for buying safe havens increased amid Omicron fears.
Gold markets gapped lower to kick off the trading session on Monday, turned around to fill that gap, only to fall again.
Although the global central banks decided to tighten their monetary policies, including those who actually raised interest rates, appetite for safe havens increased amid global fears of the Omicron variant which threatens a global closure on Christmas.
Gold markets initially tried to rally on Friday but gave back early gains to form a massive shooting star.
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Gold markets have rallied significantly during the trading session on Thursday to reach towards the 200 day EMA.
The price of gold fell strongly after the US Federal Reserve announced plan to end asset purchases and start with three interest rate increases in 2022.
Now that the Wednesday FOMC meeting has come and gone, it appears that the gold markets have found Powell's statement and FOMC decision to be reasonably bullish.
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Gold futures contracts joined the financial markets that are negatively affected, as gold fell to $1766 before settling around $1772 as of this writing.
The gold markets fell again on Tuesday as we continue to see a lot of negativity out there.
Gold futures rose this week, violating the general bearish trend that dominates global financial markets.