The gold price appreciated 0.26% since Friday’s trading session. The XAU/USD passed the monthly PP at the 1,1956 mark on Tuesday.
In regards to the near future, the yellow metal will surge upwards to the bottom boundary of the ascending medium channel, but might be stopped due to the strong resistance of the 200-hour simple moving average and the previously broken medium channel line.
On the other hand, the rate might use support of the monthly PP at the 1.195.60 mark, which may push the yellow metal upwards to pass the medium channel line and the simple moving averages.
