Gold XAU/USD remains firm with $4,140 holding bears

LONDON (November 28) Gold (XAU/USD) keeps crawling higher, and is on track to close the week 2.7% higher, with the US Dollar weighed by rising bets of Fed monetary easing. XAU/USD has been capped at $4,190 earlier on Friday, as the US Dollar picked up in a calm Thanksgiving session, but downside attempts remain limited above $4,140 so far.

The US Dollar Index, which measures the value of the US Dollar against a basket of six currencies, is picking up from lows on Friday, favoured by a mild rebound in US Treasury yields, but it remains on track for its worst weekly performance in months. 

Dovish comments from Fed officials and weak US consumption figures have prompted investors to ramp up hopes of a Fed rate cut in December, which has sent US Treasury yields and the US Dollar tumbling this week.

FXStreet