During the early hours of Wednesday's trading session the yellow metal's price continued the decline, which began on Tuesday.
After touching the 1,260 mark on Monday, the yellow metal has retreated back to the 1,250 mark on Tuesday. However,
Not only did the yellow metal started Monday's trading session higher, it also has managed to surge above the 1,250 mark and break the resistance, which kept it lower during the past three trading sessions.
During its retreat the bullion seems to have found a temporary support, as the weekly R1 at 1,242.38 is keeping the commodity price from falling even further.
As expected, the yellow metal recently reached the 1,250 mark. However, a long term trend line forced the bullion to retreat, and the retreat lasted into Thursday's trading session.
During the early hours of Wednesday's trading the yellow metal's price was fluctuating between the weekly R1 at 1,242.38 and the 50.00% Fibonacci retracement level, which is located at the 1,248.96 level.
During the early hours of Tuesday's trading session the yellow metal's price declined. However, most technical signs showed that the bullion was about to regain the lost ground and continue the surge.
The yellow metal continues to score gains, as it approaches the monthly PP, which is located at the 1,236.39 level.
The yellow metal traded above the 1,225 mark on Friday morning. However, it is most likely that new heights will be booked.
The yellow metal has extended its gains into Thursday's trading session. However, it encountered notable resistance by the middle of the day and began to consolidate.
The yellow metal awaits the Federal Reserve to announce its decision on the Federal Funds Rate. However,
The yellow metal's price after all retreated back to previous levels, as the bullion trades indecisively near the 1,200 mark, which in accordance with some analysts is a psychological support level to the commodity price.
It seems like the rebound of the yellow metal is occurring after all, as the medium term descending channel has been broken on Monday. However, the financial markets throughout the week will be more concentrated on fundamental events,
During the early hours of Friday's trading session gold price fell below the last support level at 1,199.19 before the 1,182.37 mark, where the 23.60% Fibonacci retracement level is providing support.
The yellow metal's price continues to decline on Thursday. However, it is highly possible that a rebound might occur soon.
As it was noted for the past trading sessions, the yellow metal's price fell and reached below the 1,220 level. However, the decline seems to be continuing.
The yellow metal continues to trade in the descending channel, which has guided it since the end of February.
The yellow metal regained its suffered losses during the speeches of US monetary policy makers. However, the recent movements of the commodity price have been perfectly in accordance
The yellow metal's price is falling. The reason for that is the hawkish US monetary policy comments and statements, which have propelled the Greenback higher.
As forecasted before, the yellow metal found support in the uptrend line, which has pushed the commodity price higher since the middle of December.
The price of the yellow metal continues to fall for the third consecutive trading session. It is most likely caused by the appreciation of the Greenback in the light of the recent speech of the US leader.
The yellow metal remained rather flat during the early hours of Tuesday's trading session. However, by combining and analyzing various minor details and clues
The price of the yellow metal has reached its highest level in two months. However, it reached its resistance and has reversed direction during today's trading session.
The price of the Gold has breached the triangle spotted by the Dukascopy team.