XAU/USD Analysis: Breaks R1 at 1,340.10

Dukascopy Bank Team Dukascopy Bank SA

XAUUSD

During the previous trading session, the yellow metal broke the resistance level of the monthly R1 at 1,340.10.

In regards to the near-term future, most, likely the gold will keep surging to the 1,350.00 level.

However, today's US FOMC Meeting Minutes release at 19:00 GMT could push the yellow metal to depreciate against the US Dollar towards the 1,335.00 level.

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Dukascopy Bank Team

Dukascopy Bank SA

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