Gold futures failed to join the rally in global financial markets as investors flocked to stock markets after rising interest rates and increasing recession expectations.
Gold markets initially tried to go higher on Tuesday but fell hard after the initial move during the day.
The recent trading sessions are characterized by the presence of a strong and sharp struggle between bears and bulls to determine the direction of gold.
Gold markets went back and forth during the trading session on Monday, as the Americans were away celebrating Juneteenth.
Gold futures ended the tumultuous trading week lower as the brunt of the financial market sell-off came on the yellow metal.
Gold markets pulled back a bit from the 200-day EMA as we continue to see them look very likely to consolidate in the short term.
The gold markets pulled back a bit during the trading session on Thursday to drop to the previous uptrend line.
Gold prices rebounded, benefiting from the US dollar's retreat from recent record highs and Treasury yields slightly lowered ahead of the Fed's monetary policy announcement.
Gold markets bounced a bit on Wednesday as the Federal Reserve announcement has come and gone.
The sharp gains of the US dollar strongly contributed to the collapse of the gold price to the level of 1805 dollars an ounce.
Gold markets initially tried to rally on Tuesday but then turned around to show scenes of exhaustion yet again.
The price of gold was exposed to strong profit-taking operations, after which it started from the resistance level of 1878 dollars an ounce to the support level of 1819 dollars an ounce.
Gold markets tried to go higher at the open on Monday but have found so many sellers out there that they have collapsed and slammed into the bottom of the overall range
Gold futures turned strongly positive, stunning many traders and analysts, as higher-than-expected US inflation sent investors to the safe-haven assets.
The gold market had initially fallen on Friday and then fell even quicker once the inflation numbers came out much hotter than anticipated.
