Gold trades slightly below $1,800 ahead of U.S. macro statistics

Gold trades around $1,795 per ounce. Traders intend to defend the first daily gains during sluggish trading on Friday. Gold-price fluctuations are primarily caused by expectations of the U.S. macro statistics. 

However, the rise in quotations and their ability to stand against a bearish trend may also be driven by the market's optimistic sentiments towards China’s policy. The People's Bank of China (PBOC) intends to support the country's economy. Recently, the largest weekly cash injection over the past two months was recorded. 

At the same time, mixed market sentiments may become quite challenging for gold buyers by the end of the year. This situation is complicated by the upcoming release of November’s data on the U.S. Core Personal Consumption Expenditure (PCE) Price index and Durable Goods Orders. The PCE price index is expected to remain at the level of 0.2% month-on-month, but it might decrease from 5% to 4.7% year-on-year. Durable Goods Orders, in turn, might decline by 0.6%, even though they rose 1.1% a month earlier.