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There is no doubt that the increased investors’ risk appetite is hurting the price of gold , which has now happened with the price falling to $1495 an ounce, and failed at the beginning of this week's trading, to penetrate the $1512 height, recorded after the recent tensions in the Middle East.
Gold markets gapped higher after the drone strike in Saudi Arabia against the oil refineries on Saturday.
For the second week in a row, gold prices closed lower. Get the analysis for September 16, 2019 here.
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Gold markets fell again during the trading session on Friday after initially trying to rally.
Gold markets were all over the place during the trading session on Thursday as the European Central Bank has had an interest rate decision and a press conference, cutting interest rates by 10 basis points, which is very little.
Since the beginning of Thursday's trading, the most important of this week, the price of gold is moving in an upward movement, which reached the $1502 resistance at the time of writing.
During the session on Wednesday Gold markets rallied slightly after initially dropping lower, hovering around the $1500 level.
The price of gold today succeeded in confirming the break of the uptrend that lasted for 17 consecutive trading sessions.
Gold came under selling pressure after reaching a multi-year intra-day high of 1,556.74 which is marked by the red rectangle in the chart.
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Gold markets have fallen during the trading session on Tuesday, to break below the $1500 level.
The price of gold today succeeded in confirming the break of the uptrend which lasted for 17 consecutive trading sessions.
Gold markets initially tried to rally during the day on Monday but then drifted a little bit lower.
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Sign up to get the latest market updates and free signals directly to your inbox.The gold price today and now is one of the most searched words and monitored items by investors over the past two weeks, with the price of gold reaching the $ 1557 level, the highest in six years.
Gold markets went back and forth during the trading session on Friday, showing signs of exhaustion as we have possibly gone too far into short-term of a timeframe.
Gold markets broke down rather significantly during the trading session on Thursday as we continue to see a lot of volatility around the world.