Gold markets have rallied just a bit during the course of the trading session on Thursday to reach towards the $1780 level but have given back just a bit of the gains
In the middle of this week's trading, the price of an ounce of gold fell to the $1,751 support level, its lowest in nearly three months.
Gold has managed to gain some traction in the past twelve hours, after struggling the past couple of days near important mid-term support.
Gold markets fell a bit to kick off the trading session but then turned around to show signs of resiliency as the $1750 level has offered support.
The continued strong purchases of the US dollar weakened the price of gold.
The gold markets have fallen quite a bit during the trading session on Tuesday to reach towards the $1750 level.
At the beginning of this week’s trading, the price of gold tried to rebound to the upside.
Gold markets gapped just a little bit to the upside during the trading session on Monday to fill the gap, and then turned around to show signs of strength.
Despite the continued gains of the US dollar, the price of gold tried to achieve gains that extended to the resistance level of 1795 dollars an ounce before closing trading stabilized
Gold markets are on the precipice of making a rather large move.
Gold markets initially shot higher during the trading session on Friday but then turned around to show signs of weakness yet again.
The gold markets initially tried to rally during the course of the trading session on Thursday, but then turned around to show signs of weakness yet again
After four consecutive trading sessions the gold price attempted to correct upwards with gains that reached the level of 1795 dollars an ounce.
Perhaps more pain is ahead for the gold bulls.
Despite the halt of the recent sharp gains of the US dollar, the price of gold lacks sufficient momentum to rebound higher.