The gold markets initially fell during the Globex session on Thursday but found a solid wall of support at the $1765 level.
As expected, the recent and continuous gold gains pushed the technical indicators to overbought areas
Gold markets have initially tried to rally during the trading session on Wednesday, but they have pulled back a bit moving towards a major value level.
Gold price gains increased sharply, reaching the $1786 resistance, the highest level in eight years, and gold futures for August increased by $19.30 or about 1.1% to $1,800 an ounce, the highest settlement since September 2011.
Gold: The Precious Metal Remains Glittering At New Highs
Gold markets initially pulled back a bit during the trading session on Tuesday but then turned around to show signs of strength again.
The price of gold almost didn’t move at all at the beginning of this week’s trading, as the movement during yesterday's session ranged
Gold markets have gapped higher to kick off the week, but then turned around to show signs of strength again as we filled the gap and essentially bounce right back.
For the second day in a row, gold prices are moving in a limited range amid an upward momentum between the $1756 an ounce and $1766 after recent gains pushed it towards the $1780 resistance, its highest level after nearly eight years.
Gold markets have had a wild ride over the last 24 hours, initially dipping down towards the $1760 level before rallying significantly to form quite a bit of a hammer.
Gold markets went back and forth during the trading session on Thursday as we continue to see a lot of volatility.
Gold has experienced a strong amount of selling early this morning and has come off of its highest value levels.
The gold markets did rally and break out to the upside during the trading session on Wednesday but gave back the gains as we get close to the $1800 level.
Strong weakness of the US dollar and fears of a second wave of the Coronavirus outbreak was enough to push the price of an ounce of gold towards the $1774 resistance
Gold markets have rallied yet again during the trading session on Tuesday, reaching towards the $1785 level towards the end of the pit session.