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We have turned around to show signs of weakness and ended up forming a bit of a shooting star.
The continued decline of the US dollar is an important factor for the price of gold to move upwards, surpassing the level of psychological resistance of 1900 dollars an ounce.
Gold markets initially pulled back during the trading session on Tuesday as we continue to see gold get a bit of a boost.
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Gold futures settled lower yesterday, reaching the support level of 1784 dollars an ounce.
Gold markets fluctuated during the trading session on Monday, as we are trying to digest significant gains from the previous breakout.
The strong gains in the gold price stopped at the resistance level of 1890 dollars an ounce and stabilized at the beginning of this week's trading around the level of 1880 dollars an ounce.
Gold markets went back and forth during the trading session on Friday as we try to digest some of the gains that we have seen as of late.
Gold markets initially went back and forth during the trading session on Thursday as we are trying to figure out whether or not we can continue to go higher.
In the last five trading sessions in a row, the gold price succeeded in benefiting strongly from the decline of the US dollar
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Gold markets fluctuated during the trading session on Wednesday as we continue to see a lot of confusion.
The strong recent losses of the US dollar were a major reason for the rise in the price of gold to the level of 1875 dollars an ounce, near its highest since the beginning of trading in 2021.
Gold markets initially tried to rally during the trading session on Tuesday but gave back the gains rather quickly, as we may have gotten extended.
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Sign up to get the latest market updates and free signals directly to your inbox.The weakness of the US dollar and the decrease in Treasury bond yields helped push the price of gold towards the $1871 resistance at the beginning of Tuesday's trading.
The gold markets broke higher during the trading session on Monday, as we continue to see the US dollar get hit and traders look to fight the idea of inflation.
The gold markets initially pulled back during the trading session on Friday but then turned around to reach towards a major downtrend line.