In result of the previous trading session, the yellow metal managed to recover not less than 1.26% against the buck. Such rapid advance pushed the pair not only through the psychological 1,300.00 level but also through the upper boundary of a descending channel as well as the 200-hour SMA. Most likely this sudden interest in gold was attributed to very hostile rhetoric between the US and North Korea. On the other hand, such movement could also have a technical rationale, as by the moment, the pair has reached the 1,313.61 mark that represents a point from which it entered into a downfall six days ago. This fact as well as the additional resistance set up by the weekly R1 at 1,315.94 suggests that the rate is likely cool down and eventually resume the fall.
