Gold markets initially fell during the course of the trading session on Monday but turned around to show signs of strength again
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Despite the gains of the US dollar, the price of gold succeeded in moving towards the $1755 resistance level during last week's trading, before closing steadily around $1745.
The market is still very sluggish and does not look very strong, due to the fact that the yields in America continue to throw it around.
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Gold markets have been at the mercy of the bond market for some time now, and it now looks like more of the hijinks over there is starting to affect the market over here.
The US dollar was negatively affected by the Federal Reserve's monetary policy decision and the statements of Chairman Powell, which contributed to an upward rebound for gold.
Gold markets rallied a bit during the trading session on Wednesday as we saw the FOMC come and go.
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.