By FX Empire.com
Gold prices settled on Friday, where the U.S. dollar weakened against major currencies after the ECB announced it bought bonds in the secondary market to ease mounting fears over the outlook of the euro zone debt crisis. Moreover, the U.S. leading indicators rose above projections, which provided investors with hope over the outlook for the world’s largest economy.
Traders will continue to monitor the developments from Europe regarding the debt crisis, where rising yields in Europe suggest investors are concerned amid the uncertainty that is surrounding the outlook of the EU debt crisis. Traders will be also eyeing the U.S. existing home sales on Monday. We still expect gold prices to continue to fluctuate heavily over the coming period, but overall, we remain bullish on gold prices.
Originally posted here
