Gold price rose sharply in the Asian session. The XAUUSD pair reached a high of 1554.23 as investors continued the rush to safe havens.
Gold price is currently back above the $1500 level and is now hovering around the $1506.02 support level as the momentum picks up again.
As expected, Gold price edged lower during yesterday’s session to reach the $1494.36 support level after losing momentum.
Gold price edged lower for the second consecutive session on Monday, albeit managed to hold its neck above the key $1500 psychological mark.
Gold price today tumbled after hitting record highs recently. Will the yellow metal decline further?
Gold price extends its bullish momentum into a second straight day on Tuesday, having found a strong support near $1500 mark a day before.
Gold price extended its sideways consolidative price action on Friday and remained confined well within a narrow trading band around the key $1500 mark.
Gold price declined initially towards the $1400 support zone before firing up by an impressive 48$ until this morning as the bulls stepped in hard.