Gold markets gapped lower at the open of the week, and continued to go lower from there.
Gold logged a second straight weekly loss on Friday as a series of upbeat earnings reports bolstered appetite for risk.
Gold edged lower on Thursday, giving up the gains made in the previous session, as the dollar strengthened after comments from European Central Bank President Mario Draghi weakened the euro.
Gold rose on Wednesday, edging away from two-week lows reached in the previous session, as lower prices enticed buyers back to the market.
Gold prices ended Tuesday’s session up $5.25 as weakness in U.S. and European equities a drop in the U.S. dollar lent some support to the precious metal.
Gold prices edged lower on Monday as investors took profits from a recent rally that pushed the market to the highest level in five months.
Gold ended the week up $33.29 at $1287.68 as a weaker dollar and sagging risk appetite lured buyers back into the market.
Gold prices rose $12.03 on Wednesday as the dollar weakened after U.S. President Donald Trump said the dollar was “getting too strong” and he would prefer the Fed keep interest rates low.
Gold prices settled at $1255.13 an ounce on Friday, gaining 0.55% on the week, as geopolitical concerns increased desire for safe haven diversification.
Gold prices rose in Asian trade on Friday after the U.S. launched missile strikes against Syria.
Gold started the week on a positive note, testing the $1261 level after prices climbed above the $1252/0 zone, but the failure to break through this barrier weighed on the market.
Gold markets had a very interesting couple of months, as we have bounced off the $1150 level, fell significantly during the past month, but found enough support at the $1200 level to turn things around and form a hammer.
Gold prices rose $6.45 on Monday, benefited from growing doubts over Trump’s economic plans.
Gold prices settled at $1245.10 an ounce on Friday, gaining 1.2% on the week, as a sell-off in the U.S. stock market and a lower U.S. dollar index boosted the yellow metal.
Gold snapped six consecutive days of gains as the greenback edged higher and global equities markets saw a modest rebound.