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.
