The precious metal was seen making no major gains or declines on Thursday. Prices held steady as investor shunned the Fed meeting minutes. The markets were largely unmoved. Meanwhile, equity markets managed to post some modest gains on the day but retreated back from the intraday highs.
XAU/USD Could Soon Break Out From the Range
The precious metal is expected to breakout from the range established. Gold has been trading within the 1508 and 1485 levels. This comes near the top end of the rally. The consolidation comes within the larger ascending triangle pattern near the highs. Price action could potentially see a breakout from this level. The bias currently remains to the upside, unless prices breakdown below the 1485 handle.
