On Thursday, the XAU/USD exchange rate tumbled to the 1,465.00 level. During today's morning, the rate went up.
Note that yellow metal is supported by the 55-, 100– and 200-hour moving averages, currently located circa 1,467.00. Thus, it is likely that some upside potential could prevail in the market.
However, note that the exchange rate would have to surpass the monthly PP located at the 1,475.51 mark. If the given level holds, it is likely that gold could consolidate against the Greenback in the short term.
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