The price of gold gained slightly on Monday as the demand for risk appetite softened and the dollar eased lower.
Gold prices fell yesterday below lows set around the middle of October. The yellow metal has broken important support that could lead to a bit more downside over the near-term.
A sharp fall in the price of gold on Tuesday has brought the bears out of the woodwork.
The price of gold edged up in early trading on Wednesday, after a sharp fall in the prior session.
The World Gold Council (WGC) sees demand for gold in India declining as earnings are declining in areas that typically have the greatest demand.
Gold is resilient but risk sentiment is increasingly positive, the dollar is at important support, and there is some major resistance in play.
The price of gold remained steady on Monday, influenced by fighting forces of a weaker…
Gold prices have rallied since the Fed meeting, leading to a significant breakout. I expect dips will be bought in the near-term, even if the US jobs report triggers a downward move.
Gold prices have shown a pattern of rallying in the days that have followed Fed meetings in the year thus far. This time around, it might just lead to a significant breakout.
After a sharp two-day drop in the price of gold, the shiny metal is catching a firm bid from an important support area.