Gold market gives up gains. See if it is worth trading here:
The first area of interest I see to the downside would be the $1800 level, because it is a significantly large, round, psychologically important figure, and an area where we have seen the 200 day EMA and the 50 day EMA. That being said, the market is likely to see a line of noisy behavior in that general vicinity. If we were to break down below there, then it is likely the market could go looking towards the $1785 level.
A lot of what we have seen over the last couple of days has been due to the idea of the Federal Reserve tightening its monetary policy, but there are a lot of people out there that believe that the Federal Reserve is making a policy mistake, so it will be interesting to see how that plays out. A lot of people are starting to buy bonds again, but they fell a bit during the trading session on Friday, followed by a little bit of a relief rally.