Gold Pulls Back Off All-Time Highs to Trade at About $3,078

From fxdailyreport.com

On Friday, the gold price pulled back from the current all-time highs of about $3,087 to trade at about $3,078 after the U.S. data. The XAU/USD trades within an ascending channel formation in the 60-minute chart. The price of the yellow metal has rallied to trade several levels above the 100-hour moving average line. However, it pulled back later to avoid advancing into the overbought levels of the 14-hour RSI. From a fundamental perspective, the XAU/USD trades during a relatively busy period in the U.S. market. On Friday, the Michigan Consumer Sentiment Index for March fell slightly to 57, down from 57.9 in the ... (full story)