Gold (XAU/USD) Gold (XAU/USD) regains ground on Friday, edging modestly higher after earlier weakness, even as a resilient US Dollar (USD) caps upside momentum. At the time of writing, XAU/USD trades around $4,345, recovering from a daily low near $4,309.
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The precious metal briefly surged toward record highs on Thursday after US inflation data undershot expectations. However, gains quickly faded as softer inflation lifted risk appetite across equity markets and pushed Gold back within the range established earlier this week.
That said, the downside appears limited, as a dovish Federal Reserve (Fed) outlook and persistent geopolitical risks continue to provide a steady tailwind for prices, keeping the metal on track to end the week with modest gains.
Attention now turns to upcoming US economic releases later on Friday, including Existing Home Sales and the University of Michigan Consumer Sentiment and Consumer Expectations surveys, along with one-year and five-year inflation expectations.
Technical Analysis: Gold Price Stays Weak Below $4,355
Gold remains range-bound below the $4,355 level, with the 4-hour chart showing prices stabilising just above the 21-period Simple Moving Average (SMA), which is helping to limit immediate downside pressure.
A sustained break below the 21-SMA could expose the 50-period SMA near $4,320, with a deeper pullback opening the door toward the $4,255 region, a key short-term support zone.
On the upside, a decisive move above $4,355 would bring Thursday’s high near $4,374 into focus, followed by the all-time high around $4,381. Momentum indicators remain neutral, with the Relative Strength Index (RSI) hovering near the mid-50s, suggesting room for either direction.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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