Gold prices are relatively stable, although the precious metal is not making any new highs. Amid concerns of the impact of the coronavirus, the precious metal remains well in favor.
The latest advance GDP reports from the US put a slight damper on gold prices. The precious metal did not react much to the Fed or the BoE meeting over the week.
XAU/USD is Struggling Near Previous Highs
Gold is struggling to breakout higher as it approaches the previous highs made earlier this month. A breakout above this level is required to confirm further continuation to the uptrend.
The resistance level of 1594 will also prove to be a strong one to break in the near term. This keeps the bias somewhat mixed in the near term.
