Gold prices continue to trade mixed amid a sparse economic calendar. On Thursday, the BoE and the Norges bank kept rates steady. The Swedish Riksbank, hiked rates from -0.25% to zero percent.
But the decisions did not impact the safe haven asset. There was also no flight to safety despite the impeachment process in the US House.
XAU/USD Stays Flat
The precious metal continues to remain range bound with no direction in sight. XAUUSD remains range bound within the 1483 resistance and 1462 support. As long as this range is not breached, we expect the precious metal to remain range bound.
The longer term ascending triangle pattern remains in play for the moment. But a breakout above 1483 is needed to confirm this upside bias.
