Gold prices were seen rising sharply on Friday. The precious metal closed the week with 1.61% while gaining 1.32% on the day. The rebound in the precious metal comes as investors shed risky assets and fled to safe haven assets. The Japanese yen also appreciated strongly on Friday indicating the investor concerns on the impact of the trade wars.
Can XAUUSD Maintain the Gains?
In the near term, we expect gold prices to pull back a little. The key level of interest is the 1290 – 1285 handle which has seen quite a bit consolidation. A retracement to this level to establish support will indicate further upside in gold. However, expect to see some volatility in gold prices as investors react to the developing narrative
