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The return of the weakness of the US dollar contributed to a positive start for the gold price in this week's trading, reaching the psychological resistance level of $1900 again.
It is very likely that we will continue to see a lot of choppy and misdirected volatility.
A strong US dollar led to two sharply bearish trading sessions for the price of gold last week that pushed it towards the support level of $1855, a 3-week low.
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The gold markets fell initially during the trading session on Friday, reaching down towards the $1850 level before turning around and showing signs of life again.
Gold markets got crushed during the trading session on Thursday as the initial Jobless Claims came out better than anticipated
The price of gold is still stable around and above the psychological resistance of 1900 dollars an ounce.
The gold markets initially fell during the trading session to drop below the $1900 level, only to turn around and rally again.
The market is looking a bit confused, and therefore a bit stagnant.
The gold price gains during the month of May are the best monthly gains for the yellow metal since last July
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This is a market that had been in an uptrend for a while, so it is a simple continuation of what we had been doing.
The continued weakness of the US dollar has caused strong and sharp gains for the price of gold, which recently resulted in a break through the psychological resistance level of $1900.
Gold markets initially fell during the trading session on Friday but then turned around to show signs of strength again.
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At this point, it is very possible that the market is due for a short-term pullback.
The gold markets have initially fallen during the trading session on Thursday as the $1900 level has been crucial.
Despite the dollar's recovery from its recent losses, gold prices continued to rise with sharp gains, reaching the resistance level of 1913 dollars per ounce.