After reaching nearly $1,780 an ounce this week,
Gold has started to retreat amid aggressive comments from Federal Reserve officials.
And analysts are warning that a drop below $1,750 an ounce could end the rally
And could open the door for a sharp pullback.
The rise in gold prices in the last two weeks has taken many by surprise.
Frank Choli, senior market strategist at RJO Futures, told Kitco News,
But the precious metal may have risen much faster.
Gold rose from $1,631 in early November to around $1,780 an ounce this week.
But it looks like the rally has run out of steam, at least for now.
December Comex gold futures traded around $1,759 an ounce, down 0.6% on the week.
Choli said on Friday, "Gold reached near $1,800. And now the market is showing some profit.
It's always a good idea to keep an eye on the US Dollar. Choli said, but gold can take a closer look at this
That's how US Treasury yields are trading next week. "If gold closes below $1,750,