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For the second day in a row, gold is stabilizing around $1870 after recent sell-offs that pushed the price of gold to $1850 in this week's trading.
Gold markets rallied significantly on Wednesday as we continue to see a lot of bullish momentum.
Gold declined from the resistance level of $1878 yesterday, its highest in five months, before it reached the $1849 support and settled around the $1857 level as of this writing.
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The gold markets initially rallied on Tuesday but sold off quite drastically to show signs of exhaustion.
The bullish performance of gold continues despite the strength of the US dollar.
The gold markets have fallen a bit on Monday reaching down towards the $1860 level.
Gold futures continued to rise, benefiting from a combination of a weak US dollar and rising inflation fears.
Gold markets initially fell on Friday but found buyers underneath to turn things back around and look very strong.
The gold markets have rallied significantly on Thursday as we continue to see gold markets race higher due to the idea of fighting inflation.
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In its best daily performance in more than a month, the price of gold moved to the resistance level of $1868, a 5-month high, before settling around $1852 as of this writing.
Gold provided a flourish of bullish momentum yesterday as it broke through important resistance and surged to mid-term highs leaving speculators with a decision to make today.
Gold markets exploded to the upside on Wednesday to break through the significant $1835 level.
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Six-month charts will be looked at by many gold speculators as the day begins and the precious metal finds itself near important mid-term resistance.
The weakness of the US dollar strongly contributed to the increase in the price of gold, reaching the $1827 resistance as of this writing, a 2-month high.
Gold markets initially pulled back just a bit on Tuesday only to turn around and show signs of life again.