Gold prices (XAU/USD) are trading flat during the early European hours on Friday, supported by growing concerns over US President Donald Trump’s tariff plans.
Additionally, a decline in US bond yields across the curve contributes to the yellow metal’s upside, News.Az reports, citing FXStreet.
However, the expectation that the US Federal Reserve (Fed) will stick to its hawkish stance and hold the interest rate higher for longer could drag the non-yielding yellow metal lower. Traders will keep an eye on the release of US Retail Sales for January, which is due later on Friday.
Technically, gold prices maintain a strong uptrend on the daily timeframe as the price holds above the key 100-day Exponential Moving Average (EMA). However, the 14-day Relative Strength Index (RSI) remains in the overbought territory exceeding 70.0 and warrants some caution before positioning for any further gains.
The first upside…
