XAU/USD Analysis: Will depreciate to 1,280.00

Dukascopy Bank Team Dukascopy Bank SA

XAUUSD

During Wednesday's trading session, the yellow metal was trading between the 55-hour simple moving average to end the trading day at 1,285.00.

On Thursday morning, gold was located below the 55-hour simple moving average at the 1,286.10 mark.

In regards to the near-term future, most likely, the 55-hour simple moving average will retrace the rate to push it to depreciate towards the 1,280.00 level.

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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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