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The gold market displayed limited activity during Wednesday's early hours as buyers remained elusive.
Gold futures are trying to recover after falling to a three-week low before the announcement of US inflation data this week.
In Tuesday's trading session, the gold market witnessed a modest rally amid ongoing market fluctuations.
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At the beginning of this week's trading, the gold price XAU/USD attempted to rebound higher, but its gains did not exceed the $2046 per ounce level.
Gold experienced a decline during Monday's trading session, reflecting the ongoing volatility in the broader financial markets.
By the end of last week's trading, gains in the price of gold (XAU/USD) were negatively impacted by stronger-than-expected U.S. job figures, which could support the tightening of the U.S. central bank's policy.
Natural gas witnessed a decline on Friday as it neared the 200-day Exponential Moving Average, a technical indicator known for its potential to generate market turbulence.
Gold experienced a slight decline in response to the moderately stronger-than-expected jobs report from the United States, a reaction closely tied to movements in interest rates.
The gold market appeared relatively subdued during the early hours of Thursday, reflecting uncertainty about the level of support available to sustain its stability.
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The rise in the US dollar since the start of trading in 2024 helped to push gold prices down by more than 1% yesterday.
Gold initially attempted to rally but retraced its gains during Wednesday's early hours, facing several short-term challenges.
Gold made an initial attempt to rally on Tuesday.
With the start of trading in 2024, gold futures XAU/USD struggled to establish a direction, with the price of the yellow metal oscillating between positive and negative territory throughout the trading session.
The continued pressure on the US dollar due to expectations that the US Federal Reserve will cut interest rates in 2024 is helping bulls maintain the recent record-breaking pace of gains.
Looking at the gold market, we have seen choppy performance on Friday, which aligns with the typical behavior expected on the last trading day of the year.