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Gold markets got absolutely hammered to end the week on the back foot.
The gold markets have gone back and forth on Thursday, showing a bit of hesitation at an area that of course will be important for multiple reasons.
Gold futures rose after the US government announced that US consumer prices rose more than expected.
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Gold jumped in late trading on Wednesday and its sudden rocket climb will get the attention of speculators who may have bullish sentiment.
Gold markets rallied significantly on Wednesday as we have broken through several resistance barriers in one fell swoop.
Despite the strength of the US dollar, the price of gold appears resilient with the support of many global factors.
The gold markets initially shot higher but saw quite a bit of selling pressure to turn things around and form a shooting star yet again.
Gold settled around the $1753 support level in yesterday's trading as it trades in a narrow range.
Gold markets were all over the place on Monday as we continue to see a significant amount of volatility and choppiness.
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Gold futures settled slightly lower yesterday as riskier assets such as stocks rose amid easing concerns over the US debt limit and a larger-than-expected drop in US jobless claims last week.
The gold market rallied significantly on Friday, especially as the weak jobs number shocked the market.
The gold markets have fallen a bit during the course of the trading session as we await the jobs number on Friday.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold futures settled higher, but lacked the momentum to keep going and the price stopped at $1765 as of this writing.
Gold markets fell significantly to kick off Wednesday, but just as we have seen all week, the $1750 level continues to offer support, as buyers come back in and push gold higher.
Gold markets sold off rather drastically on Tuesday but recovered quite nicely as it looked like they were going to break down at one point.