Since Thursday, the XAU/USD exchange rate has been trying to exceed the monthly PP at 1,909.25.
Given that the yellow metal is supported by the 55–, 100– and 200-hour moving averages in the 1,884.00/1,897.00 area, it is likely that some upside potential could prevail in the market.
However, if the predetermined resistance level holds, it is likely that gold could trade sideways against the US Dollar in the nearest future.
