Falling prices in the weekend market of gold, coins and dollars

The market shows the weekend of declines in gold, coins, currencies and dollars.
After the growth of the price of gold for several days, this morning the price of gold reached the highest level of a few days and a few years,
and then fell and reached the lowest price of the week.

Gold has reached its lowest price in recent days

After the growth of the price of gold for several days, this morning the price of gold reached the highest level of a few days and a few years, and then fell and reached the lowest price of the week.

The ounce of gold on the market is currently $ 1758, which is the lowest price of gold this week. Gold began to fall more than one percent after rising this morning to $ 1,790 an ounce.

Reasons for lower gold prices

One of the reasons for the decline in gold prices can be considered the strong resistance of gold at the level of $ 1800. Another reason is the breaking of the demand level at $ 1790. This indicates that  the gold market is not yet able to reach $ 1,800 and needs stronger stimulus.

Another and perhaps more important reason for the  drop in gold prices today was the news of the positive results of the corona vaccine and the expression of hope for its production, which caused one of the reasons for the increase in gold prices in recent days, namely the  increase in the number of patients with this disease. Slower effect.

Of course, it is still too early to be sure what is happening in the gold market and it is not possible to predict where the gold price will be by the end of the week, but initial forecasts believe that if the gold price continues to fall, it will reach $ 1755 and $ 1743. It can be a turning point in the  price of gold .