• The XAU/USD advanced to $1,980 after hitting $1,995 earlier in the session.
• Housing data from the US from October came in better than expected.
• Hawkish Fed speakers and US yields recovering halted the metal’s rise.

The XAU/USD saw a slight upsurge in Friday's session and is currently trading at $1,980 after hitting a high of $1,995.The price rise was stopped by hawkish words from the Federal Reserve (Fed) officials after the report of strong US housing data which fueled a slight advance in the US Treasuries.

According to the US Census Bureau's monthly data released on Friday, Housing Starts in October increased by 1.9% compared to September's revised 3.1% rise, while Building Permits rose by 1.1% in the same period after experiencing a 4.5% decline in its previous reasding.

In regards to the Federal Reserve (Fed), Susan Collins, the President of the Federal Reserve Bank of Boston, stated on Friday that she observes evidence suggesting that the financial conditions remain favourable for the Fed and welcomed the latest cooling in inflation. However, she then stated that she wouldn't take additional firming off the table, which seemed to have spooked markets.

Elsewhere, the US bond yields are seen with mild gains. The 2-year rate stands at 4.91%, and the 5-year and 10-year yields are seen at 4.46% and 4.45%, respectively. Regarding expectations, markets continue to price in a no-hike by the Fed in December