Gold Price Analysis: Gold edged lower during the Asian session, albeit lacked any follow-through and remained well within the previous day’s broader trading range. The commodity was last seen hovering around the $1730 region, down 0.20% for the day.
Gold Price Analysis
The precious metal failed to capitalize on the overnight rebound from the $1719 area, or weekly lows and witnessed some fresh selling on the last trading day of the week. Gold refreshes intraday low to $1,732.60 while snapping the late Thursday’s corrective pullback ahead of Friday’s Tokyo open.
The yellow metal took a U-turn from a fortnight high the previous day, before marking the heaviest losses in two weeks, as market sentiment soured on strong US Treasury yields. Although reflation fears seem to have propelled the yields earlier, Sino-American tussles in Alaska seem to be the latest catalyst weighing the quote.