Gold prices are up close to 0.80% on the day led by a modest risk-off rally.
This comes amid renewed tensions between the United States and China.
The breakout off the 1712.50 level comes after a prolonged period of consolidation.
However, gold is not out of the woods as it approaches the previously set highs near 1747.
Only a strong breakout above this level will confirm whether gold prices can continue the rally.
Meanwhile, the ascending triangle is validated which gives an upside to 1746, followed by 1763.
