The gold price decreased to the 1,200.00 mark again on Thursday morning, which was the same price level as it was for the previous trading session on Wednesday. Meanwhile, note that the yellow metal bounced off the bottom of the junior ascending line during the morning hours on Thursday.
The rate is still waiting for the squeeze of the 55– hour and the 100-hour SMA’s which might force the rate to breakout upwards or downwards. The 200-hour SMA is below the rate which signals traders that changes are going to perform soon.
