The yellow metal’s price edged higher by 0.73% on Thursday. The surge was stopped by the 100– hour simple moving average at 1808.01 during Thursday’s trading session.
Given that the commodity is currently trading below the 55-, 100– and 200– hour SMAs, bearish traders might continue to drive the price lower during the following trading session.
However, the support level at 1795.00 could provide a barrier for the XAU/USD exchange rate within this session.
