Yesterday, the XAU/USD exchange rate traded sideways in the 1,935.00 area. During Friday morning, the rate maintained its consolidation.
Given that yellow metal is pressured by the 55– and 200-hour moving averages near 1,945.00, it is likely that some downside potential could prevail in the market.
Meanwhile, it is unlikely that bulls could prevail in the market in the nearest future, and the price for gold could exceed the monthly PP located at the 1,969.20 mark.
