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.
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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.
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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.
The gold markets have broken down a bit during the course of the trading session on Thursday after initially trying to rally.
Since the start of trading this week, the price of gold has been in a continuous downward correction range.
Gold markets have gotten hammered again during the trading session on Wednesday to reach down towards the $1700 level.
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The strength of the US dollar continues to put pressure on gold, which fell at the beginning of yesterday's trading to the $1707 support level, before settling around $1738 as of this writing.
The gold markets initially fell during the course of the trading session on Tuesday to reach down towards the $1700 level.
Gold has so far been unable to compensate for its sharp losses during last week’s trading.
Gold markets initially tried to rally during the trading session on Monday to kick off the week but continues to see resistance above the $1450 level.
Gold collapsed during last week's trading, breaking through the $1800 support level, which triggered profit-taking.
Gold markets have broken down significantly during the trading session on Friday, slicing through the $1750 level.