Tensions between the US and Iran at the start of 2020 allowed gold to spike above the psychological $1,600 level for the first time since the end of the first quarter in 2013.
Gold markets have rallied a bit during the trading session on Friday, reaching towards the $1560 level.
Gold markets pulled back a bit during the trading session on Thursday, as US economic figures came out much stronger than anticipated.
For six trading sessions in a row, gold prices are moving within a narrow range between the $1536 support and $1563 resistance
The gold markets rallied a bit during the trading session on Wednesday, breaking above the top of the hammer from the Tuesday session.
A corrective performance of the yellow metal recently pushed prices to the $1536 level of, and before the important event today, prices rebounded to the $1554 level an ounce at the time of writing the analysis.
Gold markets have initially pulled back during the trading session on Tuesday but have found buyers underneath the turn around and form a bit of a hammer.
Gold markets fell a bit during the trading session on Monday.
Gold markets initially pulled back during the trading session on Friday, but then turned around to show the $1550 level to be supportive
Gold markets initially fell during the trading session on Thursday, breaking below the $1550 level before turning around to rally.
Gold markets initially shot straight through the roof based upon the Iranians sending a dozen or so missiles at US bases in Iraq.
Technical expectations for the future of gold prices have increased recently to move towards new record and historical levels.
Gold markets initially gapped higher to kick off the trading session on Tuesday, but then broke down to get close to filling the gap from the Monday session before rallying yet again.
The price of gold has risen by more than $40 since the killing of Qassem Soleimani.
Gold markets initially gapped higher to kick off the trading session on Monday in reaction to the entire mass that is now the Middle East.
