Gold prices are trading over 6% higher for the month of January, driving XAU/USD into a barrier of resistance at $1,950. Throughout last week, the same psychological level that limited the upside move came into play after gold opened the session at a level of $1,944.
This was 0.85% higher than Friday’s close of $1,927.6. While the discrepancy between the two prices resulted in an opening gap, prices pulled back slightly before peaking at $1,950.1.
