DailyForex analysts monitor the gold market regularly to bring you gold price predictions and gold market forecasts that can help you find the best positions in the gold market.
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The price of gold benefited a lot from the halting of the gains in the US dollar after disappointing US retail sales numbers were announced.
Gold markets initially rallied during the trading session on Tuesday but could not hang on to gains as we anticipate the FOMC meeting and statement.
The price of gold has remained stable between the $1700 support level and the $1740 resistance level, waiting for enough momentum to move higher or resume recent downward pressure.
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Gold markets have gapped higher to kick off the trading session on Monday, only to go back and forth and show signs of confusion.
During last week’s trading, gold's attempts to rebound higher after the price collapsed to the support level of $1677, a 9-month low, were weak.
Gold markets have fallen rather hard during the trading session on Friday but found plenty of buyers near the $1700 level.
The gold markets initially looked very bullish during the trading session on Thursday but gave back a significant amount of the gains to turn around and form a massive shooting star.
Gold futures closed yesterday's trading session higher, supported by the stalling of the US dollar's gains and stabilization of government bond returns.
Gold markets initially pulled back just a bit during the trading session on Wednesday but have seen buyers jump back in as yields in the United States started to fall.
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Gold prices rose sharply during yesterday's trading, ending a 4-day series of losses, as the yields of long-term US Treasury bonds and government bonds in the Eurozone decreased and the dollar trimmed some of its recent gains.
Gold markets rallied significantly during the trading session on Tuesday to bounce from a crucial support region.
Gold prices continued to collapse as Treasury bond yields and the US dollar continued to rise and pushed investors to abandon the yellow metal.
Gold markets initially tried to rally during the trading session on Monday but gave back the gains rather quickly.
The sharp gains of the US dollar and Bitcoin contributed to the collapse of gold to the $1687 level last week before closing around $1701, its lowest close since early June 2020.
Gold markets have gone back and forth during the course of the trading session on Friday, as we are hanging around the $1700 level.