During Friday’s trading session, the yellow metal depreciated against the US Dollar to end the trading session at the 1,236.05 mark. On Monday morning, the gold was trading sideways to stay at the 1,237.77 mark.
It is expected that the yellow metal will trade sideways to get resisted by the upper boundary of the freshly drawn pattern at the 1,238.50 mark. The 55-hour simple moving average will help to resist the rate during the day.
However, the gold could appreciate against the US Dollar to break most of the technical indicators to trade near the 38.20% Fibo at the 1,245.07 mark.
