Gold futures started the day on a note. This is because people were not trading much during the Asian hours due to the Lunar New Year holidays. Many markets in the region were closed. There were not a lot of trades happening. This made the price of gold go up and down easily because of big economic changes. The value of the US dollar was a little higher which meant gold did not go up in price and was under a bit of pressure.
The price of gold is around $5,700 to $5,750 per ounce now. It actually went below the price it was at earlier in the day. If we look at the charts we can see that gold was going up fast before but now it is slowing down. This means the price of gold might stay around the same for a while than going down a lot. Long as gold stays above $5,600 per ounce it is still likely to go up in the long term. For the price of gold to start going up it would need to stay above $5,820 to $5,850, per ounce.