During the previous trading session, the gold appreciated against the US Dollar by 745 pips or 0.57%. On Thursday morning, the yellow metal was trading at the 1,321.33 mark.
In regards to the near-term future, most likely, the gold will be retraced by the ascending medium pattern line at 1,325.63 to push the rate to trade at the 1,320.00 level for the rest of the day.
On the other hand, the rate could break through the resistances of the medium pattern line and the monthly R2 at 1,325.63 to trade at the 1,325.00 level.
