Gold lacked any firm directional bias on Friday and was seen oscillating in a narrow trading band, around the $1835 region through the early European session. The optimism over the rollout of vaccines for the highly contagious coronavirus disease revived hopes for a swift global economic recovery and undermined the precious metal's safe-haven demand. In the latest development, the US authorities voted overwhelmingly to endorse the emergency use of Pfizer's COVID-19 vaccine.
Friday's US economic docket features the releases of Producer Price Index and revised Michigan Consumer Sentiment Index. The data, along with the US stimulus headlines, might influence the USD price dynamics. Apart from this, the broader market risk sentiment could further produce some short-term opportunities around the XAU/USD.