Gold fell by 1 percent to a 10-month low on Friday as the dollar and U.S. equities rose. Expectations over infrastructure spending and higher inflation stoked U.S. Treasury yields and the dollar in the wake of Donald Trump’s election victory, which, along with Trump’s hawkish monetary policy, could cause the Fed to accelerate its timetable for raising rates. Amid the headwinds, gold fell 2.11 percent this week. On technical front, the momentum and MACD index still pointed to a bearish tone with resistance at $1,180 an ounce. The support was moved further down to $1,145 an ounce as the Federal Reserve is very likely to raise interest rates next week.

Silver tracked gold’s falling trajectory, and crossed below the support of $17. On the weekly chart, silver was consolidating with trading range between $16.3 to $17.2 an ounce.

 
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