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Gold futures prices rose above the psychological resistance level of $2,000 per ounce, affected by fear trading after the escalation of the war in Israel.
During the trading session on Friday, gold exhibited a rather tepid performance, maintaining its position around the pivotal $2000 mark.
The recent surge in gold prices has not gone unnoticed.
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The price of gold XAU/USD continued its upward path with gains reaching the resistance level of 1990 dollars.
In Wednesday's trading session, gold markets witnessed a modest rally, reflecting the ongoing indecisiveness that has characterized recent price action.
Recently, the price of gold XAU/USD experienced selling pressure yesterday, reaching the support level of $1953 per ounce after gains earlier in the week.
The gold market had an eventful day this Tuesday.
The price of gold XAU/USD declined towards the level of 1965$ after it was close to test the psychological resistance of 2,000 USD per ounce.
The gold market experienced some fluctuations during Monday's trading session, but it ultimately rebounded as it continued to attract investors' attention.
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Gold futures crossed $2,000 an ounce for the first time since the end of July, driven by the war in Israel, a weak US dollar, and the the Federal Reserve.
The gold market experienced a notable pause during the recent trading session, reflecting a complex interplay of factors that are currently shaping its trajectory.
Gold has been on an impressive rally, with Wednesday's trading session witnessing the precious metal breaking above the $1950 level.
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Can gold prices test $2,000 per ounce before the month ends?
The gold market is still receiving strong, positive momentum from the increasing geopolitical tensions in the oil-rich Middle East region.
The gold market exhibited an intriguing pattern during Tuesday's early trading hours, initially experiencing a slight pullback before staging a recovery that brought signs of life back into the arena.