On Thursday morning the yellow metal traded above the monthly pivot point, which is located at the 1,253 mark. The bullion managed to surge during the early hours of June 22 due to the fundamental events in the US. Due to the fact that the commodity price was located above the notable level of significance, it can be expected that the surge of the metal’s price will continue. The next level of resistance, that gold faces it the 200-hour SMA, which during the early hours of the day’s trading was located at the 1,257.20 mark. However, it could be observed that the pivot point was not clearly left behind, as the yellow metal’s price had fluctuated in limbo around it for six consecutive hours.
