During the first half of Thursday’s trading session, Gold fell by 144 pips or 0.82% against the US Dollar. However, the commodity rebounded from a support level of 1744.8 at the end of the session.
Currently, the yellow metal is trading near the lower boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 1720.00 area could be expected within this session.
However, if the channel pattern holds, buyers are likely to drive the precious metal’s price higher today.
Written by Admin
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