On Friday, gold prices are trading unchanged in early US trading session. The softer US dollar index is being balanced by a drop in crude oil prices to a five-week low overnight. US bond yields have risen a bit late this week, which leans slightly bearish for the safe-haven metals.
Precious metals traders are looking for a spark of news to trigger some bigger price movements. December gold was last up $0.40 at $1,763.40 before sliding to $1757.34 per ounce at the time of writing and December silver was up $0.22 at $21.195.
The Relative Strength Index (RSI) indicator on the daily chart retreated after climbing above 70 earlier in the week, suggesting that the latest decline is a technical correction rather than the beginning of a bearish trend.
On the upside direction, $1,780 (Fibonacci 38.2% retracement of the March-November downtrend) aligns as initial resistance. With a daily close above that level, XAUUSD is likely to face strong resistance at $1,800 (200-day SMA) before targeting $1,830 (Fibonacci 50% retracement).<\/p>\n","protected":false},"excerpt":{"rendered":"
On Friday, gold prices are trading unchanged in early US trading session. The softer US dollar index is being balanced by a drop in crude oil prices to a five-week low overnight. US bond yields have risen a bit late this week, which leans slightly bearish for the safe-haven metals. Precious metals traders are looking …<\/p>\n","protected":false},"author":13,"featured_media":71340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6877,6874],"class_list":["post-75933","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-dollar","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=75933"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75933\/revisions"}],"predecessor-version":[{"id":75940,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75933\/revisions\/75940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=75933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=75933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=75933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}