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Gold News: Key Retracement Holds While Traders Eye PCE for Gold Price Future Moves
Spot gold is pushing slightly higher late Thursday, holding just above the key retracement zone between $4192.36 and $4133.95. Traders are watching this band closely — a sustained bid above it keeps the door open for a breakout through this week’s high at $4264.70 and puts the all-time high at $4381.44 back in play. If sellers crack the 50% retracement at $4133.95, the market risks a slide toward the 50-day moving average at $4067.39, a major support and trend indicator. Gold stayed relatively flat through the session as firmer Treasury yields offset the support from a weaker dollar. The 10-year yield moved up ... (full story)
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