During the previous trading session, the yellow metal was resisted by the 100-hour simple moving average to trade between the 100-hour SMA and the monthly pivot point at 1,308.46. On Tuesday morning, the gold was located at the 1,311.36 mark.
In regards to the near-term future, most likely, the yellow metal will continue the trade between the monthly PP and the simple moving averages to stay at the 1,310.00 level for the rest of the day.
Meanwhile, the 200-hour simple moving average will catch up the monthly pivot point at 1,308.45 to give additional support for the gold!
