On Friday, the yellow metal’s price plummeted by 195 pips or 1.07%. The commodity breached the 55– hour simple moving average during Friday’s trading session.
By and large, the XAU/USD exchange rate could continue to edge lower during the following trading session. The possible target for bearish traders will be near the 1795.00 area.
However, sellers are likely to encounter support at 1808.12 within Monday’s trading session.
