With the month of May coming to an end, Gold has gone up for the second consecutive month, reaching 1900 for the first time since January 8th. Gold closed at 1902.6 today, and has pretty much consolidated around the 1900 price level since Tuesday. There was about a 1.15% increase in price for this week.

This is the fourth consecutive week Gold has seen gains, and increased over 6% for the current entire duration of this month, which is more than double of last month’s increase. This month is on pace to be the largest increase since July of last year, where Gold increased over 11%.

Gold’s bullish movements can be linked to the Dollar’s decrease. The Dollar is going to have its second consecutive month on a decline, decreasing by over 3% since the first of April. The uncertainty of future stimulus checks have been speculated to be a factor of the dollar’s current decrease and in the near future. The Dollar isn’t alone on bearish movements for this month, as we’ve seen popular stocks such as Apple (AAPL) and Tesla (TSLA) go down as well. Even top cryptocurrencies such as Bitcoin (BTCUSD) and Ether (ETHUSD) saw bearish movements for this month.

Gold faces a significant support level at 1900, and hasn’t had a strong breakthrough above it for this month. When it was at 1900 back in the beginning January, Gold went on a downtrend basically until the end of March. With a lot of significant US news coming out next week for Non-Farm Payrolls (NFP), we’ll likely see volatile movement around that price level, which well help determine what the precious metal is going to do next.