Gold markets have rallied rather significantly during the Friday session after the job summer came out in the United States.
Technical Analysis
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Gold markets have pulled back a bit during the trading session on Thursday, as we have seen the ADP numbers come out much hotter than anticipated.
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During a strong bullish retracement, the XAU/USD gold price is still moving in an upward path.
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As of this writing Gold is trading near the 1847.00 mark, this after attaining the 1865.00 ratio on early Wednesday.
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Gold markets had been forming a bit of a rising wedge, but we’ve broken above the top of it during the session on Wednesday.
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Gold futures appeared to start 2023 well by testing the $1850 resistance.
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At the beginning of trading in the new year 2023, the price of an ounce of gold, XAU/USD, remained on its upward path.
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Gold markets have been somewhat positive in the then the Monday trading session, as spot gold traded higher.
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Gold futures ended 2022 relatively unchanged, erasing losses from earlier in the year.
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Gold markets have rallied a bit during the trading session on Thursday, showing signs of life again.
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After gold prices jumped on Tuesday towards the $1833 resistance level, its highest in six months, the XAU/USD gold price returned to stability around the $1800 psychological resistance
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The Gold markets have fallen a bit during the trading session on Wednesday to show signs of hesitation.
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In a sudden upward movement yesterday, the price of gold XAU/USD jumped towards the resistance level of $1833 per ounce.
Technical Analysis
Gold markets have shot higher during the trading session and what would have been a very thin holiday environment.
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For two days in a row, XAU/USD gold prices are trying to rebound to the upside and return to stability above the psychological resistance of $1,800 an ounce.
Technical Analysis