FXStreet (Mumbai) - Gold prices jumped to the 5-week MA at USD 1077.60/Oz, while the treasury yields backed-off from near 5-1/2 year highs, indicating the ‘sell the fact’ trade may have begun. Poised for a weekly gain The metal now looks set for a weekly gain as it trades at least higher by $10 from its weekly opening price. Moreover, the rate hike talks have been here for more than a year and now that the jobs report opened doors for the much awaited liftoff at the Dec 16 meeting, the ‘Sell (USD) the fact trade” could resume. Gold has been sold aggressively throughout the year, while the USD was on the run in anticipation (“buy the rumour”) of the liftoff. Gold Technical Levels The metal clocked a high of USD 1081.73/Oz. The immediate resistance is located at 1100/Oz, above which the prices could test 10-WMA at 116.53/Oz. On the other hand, a break below hourly 200-MA now at 1065.91/Oz would expose the latest cyclical low of USD 1046.18/Oz. For more information, read our latest forex news.