The gold futures gained 0.88% on Friday as it extended its short-term uptrend. Gold price has retraced even more of its month-long decline from April's high. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Friday's high fell at $1,756.30. Today, gold is trading along Friday's highs, however we can see some short-term profit-taking action amid rallying stock markets.

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The gold futures contract gained 1.43% on Thursday as it broke above the recent consolidation. Gold price has retraced more of its month-long decline from April's high. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential medium-term downward reversal. But today, gold is breaking above yesterday's trading range following worse-than-expected U.S. Retail Sales release.

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The gold futures contract gained 0.56% yesterday as it extended its Tuesday's advance. However, the market continues to fluctuate within a short-term consolidation. Gold price remains close to $1,700 level. It is still trading within a flat correction after its April's advance. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential medium-term downward reversal.

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The gold futures contract gained 0.52% on Tuesday as it continued to fluctuate within a short-term consolidation. The market remains close to the price level of $1,700. Gold is still trading within a flat correction after its April's advance. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential medium-term downward reversal.

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The gold futures contract lost 0.93% on Monday following Friday's bounce from the recent local highs. Gold is still trading within a flat correction after its April's advance. On April 14 it was the highest since November of 2012 and the high was at $1,788.80. Since then we've seen some profit-taking action and a potential medium-term downward reversal.

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