The pace of buying the US dollar has stopped after the announcement of Trump's health improvement from the symptoms of the Coronavirus.
Gold markets initially fell during the trading session on Monday, as we reached below the $1900 level before buying again.
For five consecutive trading sessions, the price of gold moved upwards with gains that reached $1917 an ounce during last Friday's trading.
The gold markets have gone back and forth during the trading session on Friday, essentially deciding nothing at the 50 day EMA.
The gold markets rallied significantly during the trading session on Thursday as we continue to see a lot of concern out there when it comes to global growth,
The halting of the US dollar's gains contributed to an upward correction in the gold prices towards the $1900 resistance before settling around $1896 per ounce at the time of writing.
The gold market fell rather hard during the trading session on Wednesday, even as the US dollar lost a bit of strength.
In recent technical analysis of the gold price expectations, we mentioned that the yellow metal has the opportunity to move towards $1900 an ounce, a level that may provoke more buying and thus pave the way for a retest of the standard resistance levels.
Gold markets gapped higher during the trading session on Tuesday and then went even higher than that.
The yellow metal is trying to confirm that it is the best safe haven for investors despite recent selloffs.
Gold markets have initially dipped during the trading session on Monday but found enough buyers underneath the turn things around and show signs of life.
The recent sales of the yellow metal price succeeded in breaking the upward trend of the gold price during last week’s trading.
Gold markets dropped a bit during the trading session on Friday again, finding the $1850 level as support yet again.
The last couple of weeks have been difficult for gold bulls, as the gold markets have sliced through the $1900 level.
Gold markets have initially fallen during the trading session but turned around quite nicely later in the day on Thursday as the US dollar got sold off in late New York trading