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Gold Price Prediction – Prices Consolidate Despite Robust Retail Sales

Gold Price Prediction – Prices Consolidate Despite Robust Retail Sales

October 24, 2020 (updated October 24, 2020) Published by

Gold prices barely moved on Friday inching lower and trading in a very tight range. The dollar declined slightly after rallying on Thursday as US yields consolidated. The movement in the dollar and yield came despite a stronger than expected US retail sales report, that seemed to be countered by a slight dip in US consumer confidence.

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Gold prices edged lower trading sideways and barely moving on Friday. Prices remain above short term support is seen near the 10-day moving average at 1,902. Resistance is seen near the 50-day moving average at 1,927. […]

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