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Gold Marks 2 Wk Highs and Dips

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$XAU, $GLD

Gold prices retreated slightly Friday in Asia after marking a more-than-2-week high Thursday.

US Gold Futures dipped 0.13% to 1,482.55 oz as of 10:59p ET Friday (03:59 GMT) after reaching a 1484.95 high.

Spot Gold prices also dropped 0.03% to $1,478.67.

The political uncertainties caused by US House of Representatives’ voting to impeach President Trump may have supported gold prices earlier in the week as investors opted to the safe-haven precious Yellow metal.

The managing partner at Altavest, said that “thin holiday trading conditions can result in exaggerated 1-day price action” despite a small gain for the week Thursday.

For now, the gold charts “seem to be telling us that the yellow metal is in a holding pattern and it is only a matter of time before gold moves higher again.”

This year, gold prices were up by around 15% as a result of the US-China trade dispute and the worries of its impact on the global economy.

Have a terrific weekend

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