Gold price trades near the bottom range, around $1750. Upbeat US retail sales boost the Greenback. Rising US 10-year yields lend decent support to the dollar. The gold price outlook is bearish as the price slumps after the US dollar picked momentum from upbeat retails sales data. -Are you looking for the best CFD broker? Check our detailed guide- The price of gold struggled to hold its intraday gains and fell to the lower end of the daily trading range at the start of the North American session. A moderate pullback in the US dollar following Thursday’s three-week highs was seen as a key factor supporting the dollar-denominated commodity. Nonetheless, the dollar benefitted from rumors that the Fed may tighten earlier. Consequently, the non-yielding yellow metal’s growth slowed, but new sales of 1,767-68 US dollars ensued. On Thursday, consumer confidence was bolstered by strong US retail sales, indicating that the economy is continuing to recover. Fed incentives for pandemic preparedness are expected to be phased out later this year, investors say. Get FREE Forex Signals Now! A fresh rise in yields on US Treasury bonds also supported the dollar. A ten-year Treasury bond yield set a record of 1.35%. Thus, the FOMC’s September 20-21 monetary policy meeting will be the next big event for gold. In addition, rising expectations of an imminent Fed cut announcement and ongoing concerns over the delta variant contributed to a drop in sentiment. As a result, stock markets have taken a cautious stance. At least for the time being, this may be the only factor that helps limit serious losses in bullion gold. The Michigan Consumer Sentiment Index slightly missed expectations arriving at 71.0 against the expected 71.9. The market remains unmoved. -Are you looking for forex robots? Check our detailed guide- Gold price technical outlook: Gold 4-hour chart outlook Gold price is wobbling around $1750 area and may test the recent swing lows around $1744. The 4-hour chart shows a strong consolidation near the lows. The volume supports bearish momentum, while the average daily range is 92%. Hence, the market seems almost done for the week. We may find some trading opportunities on Monday. Looking to trade forex now? Invest at eToro! Trade Forex Now! 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Commodities share Read Next Forex Broker News: TIOMarkets UK With FY2020 Revenue Increase Gerald Fenech 1 year Gold price trades near the bottom range, around $1750. Upbeat US retail sales boost the Greenback. Rising US 10-year yields lend decent support to the dollar. The gold price outlook is bearish as the price slumps after the US dollar picked momentum from upbeat retails sales data. -Are you looking for the best CFD broker? Check our detailed guide- The price of gold struggled to hold its intraday gains and fell to the lower end of the daily trading range at the start of the North American session. A moderate pullback in the US dollar following Thursday's three-week highs was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.