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Gold markets got crushed during the trading session on Thursday as the initial Jobless Claims came out better than anticipated
The price of gold is still stable around and above the psychological resistance of 1900 dollars an ounce.
The gold markets initially fell during the trading session to drop below the $1900 level, only to turn around and rally again.
The market is looking a bit confused, and therefore a bit stagnant.
The gold price gains during the month of May are the best monthly gains for the yellow metal since last July
This is a market that had been in an uptrend for a while, so it is a simple continuation of what we had been doing.
The continued weakness of the US dollar has caused strong and sharp gains for the price of gold, which recently resulted in a break through the psychological resistance level of $1900.
Gold markets initially fell during the trading session on Friday but then turned around to show signs of strength again.
At this point, it is very possible that the market is due for a short-term pullback.
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The gold markets have initially fallen during the trading session on Thursday as the $1900 level has been crucial.
Despite the dollar's recovery from its recent losses, gold prices continued to rise with sharp gains, reaching the resistance level of 1913 dollars per ounce.
We have turned around to show signs of weakness and ended up forming a bit of a shooting star.
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Sign up to get the latest market updates and free signals directly to your inbox.The continued decline of the US dollar is an important factor for the price of gold to move upwards, surpassing the level of psychological resistance of 1900 dollars an ounce.
Gold markets initially pulled back during the trading session on Tuesday as we continue to see gold get a bit of a boost.
Gold futures settled lower yesterday, reaching the support level of 1784 dollars an ounce.