GOLD: Intraday Analysis & Setup update

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.

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