XAUUSD (GOLD) 4H Chart

Gold made a U-turn from a 17-month high on the strong US dollar. The yellow metal was one of the best performers of this week and surged $75 on an escalation of geopolitical tension between Russia and Ukraine. US 10-year yield regained sharply after hitting a two-week low.

The US grew by 7% in the fourth quarter in line with estimates compared to 6.9% previous quarter. The number of people who have filed for unemployment benefits dropped to 232K this week vs an estimate of 233K.

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