The gold price on Friday pulled back off the session highs of about $1,957 to trade at about $1,945 following the latest round of data. The price of the yellow metal seems to be trading within a descending channel formation in the 60-min chart. The gold price has now fallen to trade a few levels below the 100-hour moving average line. As a result, gold seems to have shifted closer to the oversold levels of the 14-hour RSI. From a fundamental perspective, the gold price is trading at the back of a relatively busy period in the US market. On Friday, the durable goods orders for April beat the expected change of -1% ... (full story)