The precious metal was once again attempting to post some gains with some degree of success. Gold prices rose by over 0.50% percent into Friday’s close. The gains came as risk sentiment is fading. Equity markets remain rather flat right after charting into new highs.
XAU/USD Could Rise Further if Support Holds
Gold prices broke past the temporary resistance area of 1562. This triggers the bullish ascending triangle pattern. If prices retreat, then the 1562 level could act as a support. This will open the upside to a minimum target of 1600 once again. But failure to break past previous highs could keep gold trading flat near the top.
