For the second day in a row, gold futures contracts continue to bounce up after the sharp decline last week.
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The gold market rallied a bit during the trading session on Monday to reach towards the $1785 level.
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Gold futures continued their sharp losses as global financial markets continued to interact with the US Federal Reserve raising expectations of an increase in interest rates.
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The gold markets initially tried to rally during the trading session on Friday but gave back the gains rather quickly.
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The gold market gapped lower to kick off the trading session on Thursday, and then turned around to break down quite significantly.
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In light of the worst daily performance in four months, the price of gold moved to the support level of $ 1803 an ounce, its lowest in a month and a half,
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Gold markets got hit during the trading session on Wednesday, breaking down below the crucial $1850 level as the statement coming out of the Federal Reserve suggests that perhaps they will be tightening rates sooner than originally thought.
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For four trading sessions in a row, the price of gold is moving in a downward correction range.
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The gold markets fell again during the trading session on Tuesday to reach towards the $1850 level.
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Within the completion of the performance movement at the end of last week, the price of gold moved at the beginning of this week’s trading amid bearishness.
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The gold markets fell rather significantly during the trading session on Monday to reach down towards the 50-day EMA.
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The recovery of the US dollar contributed to the profit-taking sale of the price of gold, reaching the support level of 1870 dollars an ounce.
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The gold markets fell pretty significantly during the trading session on Friday as we continue to see a lot of noisy behavior and a bit of hesitation to go forward.
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The gold markets initially fell during the trading session on Thursday as the world awaited the Consumer Price Index in the United States to come out.
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The recovery of the US dollar before the announcement of US inflation figures contributed to the decline in the price of gold to the level of 1888 dollars per ounce.
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