On Thursday, the XAU/USD exchange rate breached the medium-term ascending channel south. During today's morning, the rate was trading at the 1,470.00 level.
Given that yellow metal is pressured by the 55-, 100- and 200-hour moving averages, it is likely that some downside potential could prevail in the market. In this case, the price for gold could surpass the 1,460.00 level.
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