Gold prices dropped on Friday and were on track for a second consecutive week of declines, weighed by a stronger U.S. dollar and Treasury yields after hawkish remarks from Federal Reserve Chair Jerome Powell.
“Gold has been consolidating below $2,000 since the beginning of November, after getting ahead of itself. However, I remain bullish for the year-end as long as it stays above $1,900,” said Hugo Pascal, a precious metals trader at InProved.
