The gold price appreciated 0.21% since Thursday’s trading session. The XAU/USD was located between the SMAs at the 1,201 mark on Friday morning.
In regards to the near future, the yellow metal will surge upwards due to a psychological barrier of the 1,200 mark and support of the 55-hour simple moving average and the 100-hour simple moving average, which should push the rate to the 1,206.00 level during today’s trading session.
Note, that the 200-hour simple moving average at the 1,202.00 level might stop the rate and push gold back to the monthly PP at the 1,195.60 mark.
