The yellow metal’s price movements in the past trading session have become increasingly easy to forecast. Moreover, the future also seems clear.
First of all, the bullion has revealed the medium term ascending channel’s borders, which help to predict when the metal will reach above the 1,300 mark. Secondly, the commodity price has reached above the 1,290 mark and touched the 1,295 level on Friday.
In the near future it can be expected that the metal’s price will surge above the 1,300 mark. However, that can be hindered, if the new weekly pivot points on Monday obstruct the surge.
