XAU/USD Analysis: Follows predictions

Dukascopy Bank Team Dukascopy Bank SA

XAUUSD

During Tuesday's session, the yellow metal broke the medium pattern to end the trading session at the 1,300.00 level as it was predicted! On Wednesday morning, gold surged to the 1,308.57 mark.

In regards to the near-term future, it is expected that the yellow metal will trade sideways at the 1,310.00 level.

However, today's US Core Durable Goods Orders, Durable Goods Orders, US PPI data release at 12:30 GMT might push gold towards the monthly pivot point at the 1,321.03 mark.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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