The gold price appreciated 0.33% since Wednesday’s trading session. On Thursday, the yellow metal was trading sideways near the 1,202.00 level.
The simple moving averages kept supporting the yellow metal since Wednesday’s trading session. The gold is still waiting for the buy signals for traders to change the yellow metal low volatility.
In regards to the near-term future, it is expected that the buy signals will push the yellow metal to surge upwards to the 61.80 % Fibonacci retracement level at 1,2158.00 mark.
