The gold markets rallied significantly on Friday but gave back the gains to show signs of exhaustion.
The US dollar shot straight up in the air during the trading session on Thursday as retail sales came out much stronger than anticipated.
The gold market has pulled back a bit during the course of the trading session on Wednesday as we trying to break above the 200 day EMA.
Gold markets initially fell on Tuesday to reach towards the support level near $1775.
The price of gold showed a modest move to the upside during early trading this week amid falling US Treasury yields.
Gold fluctuated on Monday as it stays within the same consolidation area it has been in over the last four days.
By the end of the week's trading, gold tried to recover above the psychological resistance of $1800, but the pressures brought it back to close around $1788.
Gold markets were choppy again on Friday as options expiration may have been a bit of a factor.
Gold markets have been all over the place during the trading session on Thursday as the market has been stabilizing after the recent selloff.
Gold has been subjected to selloffs that pushed it towards the $1783 level, settling around $1790 as of this writing.
Gold markets were very noisy on Wednesday, essentially standing still with a slightly negative tilt.
Gold markets got absolutely crushed on Tuesday as the liquidity came back into the market.
Gold reached a high of nearly 1834.00 on the 3rd of September, which tested mid-term highs from the middle and end of July.
The gold market has pulled back a bit during the trading session on Monday from a major resistance barrier in the form of $1835.
Gold markets rallied significantly on Friday to reach towards the $1835 level, an area that has been important resistance more than once.