At this stage, dollar demand could limit the upside impetus in gold prices in the near term. On the other hand, the yellow metal attracts demand on dips, which is a bullish sign as well as the incoming data from major countries, highlighting the extent of economic damage caused by the pandemic. According to the latest news, Gilead Sciences’ antiviral drug remdesivier failed to help patients in the initial first clinical trial, which added to a cautious and pessimistic tone in the markets on Friday.