Nothing Can Be Done, Gold Remains Trapped At The Weakest Level!


 The precious metal gold remained trading gloomy around Friday's lows, putting it on track for a fourth straight weekly decline.

Examining price movements in the Asian session, spot gold traded at $1,825 per ounce, while gold futures slightly increased at $1,832 per ounce.

The commodity failed to show a significant reaction following the release of US gross domestic product (GDP) data which was slightly off in the fourth quarter from its initial reading.

The US dollar also remained strong, resulting in gold trading remaining under pressure towards the end of the week.

The minutes of the FOMC meeting released earlier continue to support the US dollar, following expectations that the Federal Reserve (Fed) will continue to raise interest rates to lower inflation to the central bank's 2% target.

The next focus for investors is the personal consumption expenditure (PCE) price data released in the upcoming New York session.