Friday at a glance: Gold recovered back to $1,999.4 per ounce after dipping down to $1,984.4, in a session that followed Thursday's $1,999 close value.
Gold made an initial breakout above its 5 day Simple Moving Average at $1,998.2, a potential indicator of a newly emerging bullish phase. Gold's upper Bollinger Band® is at $2,039 and the lower is $1,981.76. After reaching the $1,986.83 support zone, Gold bounced and climbed $12.57 above it.
Despite muted price action in CME Gold, chart analysis indicates it is positioned for a bullish run in the short term.
While CME Gold was pretty flat Friday, mixed performances were seen elsewhere as after ending Friday's session at $1,093.2, Platinum lost $4.7 and is trading around $1,088.5. Notably, Silver rose 0.5% Friday and closed at $25.21. Palladium went up by 0.71% Friday, and closed at $1,503.
Data to be released today might clear up some of the market fog as United States ISM Manufacturing PMI (Apr) scheduled to come out tomorrow at 14:00 UTC.
Gold is now trading 2.73% below the significant high of $2,055 it set around 17 days ago.