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The gold market witnessed a significant dip during Tuesday's trading session, but it managed to stage a recovery, showing signs of resilience.
At the beginning of trading in the new month of October 2023, gold futures contracts declined, driven by the rise in the US dollar and the increase in Treasury bond yields.
The gold market faced another downturn during Monday's trading session, as it grapples with challenges arising from the strong US dollar and rising interest rates.
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At the end of last week's trading, gold futures continued their losses after announcing a rise in the US inflation measure favored by the Federal Reserve for the second month in a row.
In Friday's trading session, the gold market displayed a back-and-forth movement.
Currently, the gold market is navigating through a phase of despair, with the existing conditions being far from favorable.
In the middle of trading this week, gold futures fell below the support level of $1,900 per ounce, driven by the rise of the US dollar and the rise in Treasury bond yields.
Gold markets experienced a substantial decline during Wednesday's trading session, with the US dollar's strength impacting a broad spectrum of assets.
The failure of the gold price XAU/USD to move above the resistance of $1945 per ounce will support the formation of the head and shoulders
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Gold markets experienced a decline during Tuesday's trading session, approaching the 200-Day EMA, a critical indicator closely monitored by many.
At the beginning of this week's trading, gold futures declined, driven by the continued strength of the US dollar and rising Treasury bond yields.
The gold market currently finds itself entangled in a web of uncertainty, as traders grapple with a multitude of factors influencing the precious metal's performance.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold markets find themselves ensnared in a web of uncertainty as traders grapple with a multitude of factors affecting the precious metal's performance.
Gold markets commenced Thursday's futures trading session with a significant downward gap, reflecting extremely bearish sentiment.
The US dollar receiving a positive wound from the Federal Reserve Bank of America's real estate halted the path of gains in the price of gold XAU/USD this week.