The gold price appreciated 0.38 % since Monday’s trading session. On Tuesday, the yellow metal was trading between the 200– hour and the 100– hour simple moving averages at the 1,194.09 mark.
In regards to the near-term future, most likely, the monthly pivot point at the 1,195.43 mark together with the 200-hour simple moving average will retrace the gold to trade 1,190.00 mark during the day.
On the other hand, the 100-hour simple moving average might support the yellow metal to break the monthly PP and the 200-hour simple moving average to let the gold to trade at the 1,196.00 level on Tuesday.
