Gold Can Fly Confirm

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Gold price (XAU/USD) enters a bullish consolidation phase during the first half of the European session and oscillates in a range above the $2,770 area, near a multi-month top touched earlier this Friday. The US Dollar (USD) attracts sellers for the second straight day and drops to over a one-month low amid a fresh leg down in the US Treasury bond yields, triggered by US President Donald Trump's comments that he could reach a trade deal with China. This, along with bets that the Federal Reserve (Fed) will cut interest rates further by the end of this year, acts as a tailwind for the non-yielding yellow metal.

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