Since Wednesday, the XAU/USD exchange rate has been testing the 1,900.00 level.
It is likely that yellow metal could gain support from the 55-hour moving average near 1,889.79 and extend gains in the short run. Note that the rate could face the resistance level—the monthly PP at 1,909.25.
If the predetermined resistance level holds, it is likely that gold could trade sideways against the US Dollar within the following trading session.
