During Thursday’s trading day, the yellow metal followed the previously drawn pattern to end the trading session at the 1,286.21 mark. During Friday’s midnight hours, gold appreciated against the US Dollar breaking the resistance levels most of the technical indicators to be located at the 1,294.62 mark.
It is expected that the yellow metal will trade above the 23.60% Fibonacci retracement level to stay at the 1,290.00 level during the trading session.
However, today’s US Employment data set release at 13:30 GMT might push the rate to break the resistance of the monthly S1 at 1,295.12 to trade at 1,300.00.
