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Gold Price Analysis: XAU/USD sees weekly closing below $1700 - a caution for bulls

1 month ago   |   By FXCM

Gold sold-off into economic rebound narrative after US NFP surprise.
US-China tensions, global coronavirus massive stimulus to offer support.
Focus on US inflation data and FOMC Interest Rate decision next week.
The steady decline in Gold prices accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.
On Friday, the yellow metal fell as much as 2% to reach a fresh six-week low of 1671.70, having booked a 4.5% weekly loss.
The corrective slide in the...
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