Image result for gold coins

Gold prices steady this Friday after closing and opening above $1,280, US weak data pushed back the dollar and reignited hopes of a rate cut by the Federal Reserve this year.

The U.S. dollar retreated after hitting its highest level in two years as weaker domestic data and the potential economic fallout from the trade war with China increased expectations for an interest-rate cut this year.

Bullion is often seen as a safe-haven investment in times of political or economic uncertainty.


Price to watch is the 20-EMA line of $1,283.07 if price can maintain above here, XAUUSD will push towards $1,289.41the 50-SMA and next to the 100-SMA $1,296.51.

If the price does push below the 20-EMA line, support will be $1,270, the 200-SMA is point upwards at $1,257.76.