On Friday, the gold price extended Thursday’s decline to trade at a new 6-week low of about $3,272 after the latest data. The XAU/USD trades within a descending channel formation in the 60-minute chart. The price of the yellow metal has now fallen to trade several levels below the 100-hour moving average line. As a result, it is on the verge of entering the oversold levels of the 14-hour RSI. Gold Price Fundamentals Overview: From a fundamental perspective, the XAU/USD trades during a relatively busy period in the U.S. market. On Friday, U.S. personal income for May missed the expected change of 0.3% with a change of ... (full story)