GOLD: Cup-shaped trend

Gold Price (XAU/USD) remains pressured at $1,9170 amid early Friday morning in Asia, after reversing from a nine-week high as market players seek more clues to justify the latest pullback in the metal’s prices. Despite the retreat, the XAU/USD remains on the way to posting the third consecutive weekly gain while ignoring the US Dollar’s ability to recover from a 15-month low. It should be noted that the recently welcome United States Initial Jobless Claims and the US Treasury bond yields joined downbeat Wall Street to trigger the Gold Price pullback from the multi-day high. However, mixed concerns about the US Federal Reserve (Fed) and China, one of the world’s biggest customers, seem to prod the XAU/USD bears ahead of the key week comprising top-tier central bank announcements.

Gold Price reversed from the highest level since May 17 the previous day after the US Dollar Index (DXY) rose the most in two months on a day while refreshing the weekly top. In doing so, the greenback’s gauge versus the six major currencies took clues from the upbeat employment clues from home, as well as a recovery in US Treasury bond yields.

GOLD BUY 1969 - 1966 💯💯

✅ TP1: 1975
✅ TP2: 1980

🛑 SL: 1961

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Running +30pips ✅✅✅

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Gold bound for third straight weekly gain on Fed pause views