Worries that surging COVID-19 infections in some countries could derail the global economic recovery continued lending some support to the safe-haven XAU/USD.
Aside from rising supply, commodity prices face a number of other headwinds over the next year including the prospect of a stronger US dollar and higher US Treasury yields.
The gold price has already fallen a long way from its 2020 peak in tandem with higher real yields in the US.
Gold fell 0.4% on Friday to $1777.20 and questions remain if it can break above the $1800 resistance, having tried that multiple times last week to no avail.
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