Gold starts a new trading week with a decline of more than 1.7%, amid a significant drop in demand for risk-free assets.
On Thursday, gold was trading in a very narrow price range, amid a lack of important news on the market that could give a more directional impulse to price movement.
On Wednesday, gold was trading in a fairly narrow price range, remaining under pressure from the dollar and receiving support from the current situation on the stock markets.
Tuesday trading, gold has finished growth of almost 0.7% and today again continues the positive momentum of the movement.
Gold closed with a 0.45% decline on Thursday amid stronger dollar, which makes the precious metal more expensive for investors.
After a small correction, gold closed the second week in a row with growth, maintaining good opportunities to continue the upward movement.
On Thursday, gold showed a decline of more than 1.5%, rebounding from resistance at $ 1,350.
Over the past two days, precious metal has been able to gain significantly, moving away from the minimum values since mid-December 2017, but the problem for gold is that the correction was more technical in nature and was not due to fundamental reasons.
The gold is traded under pressure for the whole week amid stronger dollar, as USD index returned back to the year highs and updated the recent local maximums around 95.20 points.