On Tuesday, Gold prices had passed the resistance of the 55-hour simple moving average.
Gold prices on Monday remained near the 1,230.00 level.
The yellow metal's price has remained largely unchanged in the last twenty four hours.
Before reaching the 1,210.00 mark, gold prices began a surge, which on Thursday had reached above the 1,230.00 level.
The yellow metal on Wednesday was continuing its decline down to the 1,210.00 mark.
The metal's price has fallen down tot eh 1,220.00 level.
Gold prices have booked a new high level, as on Friday they finally reached above the 1,240.00 level.
On Friday, the third attempt to reach above the 1,240 level was stopped by the resistance of a large scale ascending pattern.
Gold prices once more almost touched the 1,240.00 mark. Although, the rate retreated after the attempt until it found support in the 55-hour simple moving average and prepared for another attempt to pass the just mentioned level.
The yellow metal reached the 1,240.00 mark. The move occurred by simultaneously piercing the upper trend line of a dominant ascending pattern.
The yellow metal has reached the upper trend line of a dominant ascending pattern.
The yellow metal declined to the 1,222.00 level.
The yellow metal continues to trade in limbo around the 1,230.00 mark.
Gold is slowly continuing downwards after the previously described bounce off from the dominant resistance.
The yellow metal continues to trade near the 1,230 level. However, it had declined down to a support level near the 1,221.00 mark during the morning hours of Wednesday's trading.
During the last 24 hours the metal has traded sideways.
The metal has managed to break above the 1,230.00 level.
The yellow metal has fulfilled the previous forecast. The 1,227.00 level was reached.
Gold prices have jumped, breaking almost all resistance up to the 1,210.00 mark.
Since Monday gold prices continued to trade near the lower trend line of a dominant pattern.
On Tuesday, the yellow metal remained near the previously reached lower trend line of a dominant pattern.
The yellow metal's prices plummeted down to a dominant support line, as expected.
After a larger review of the yellow metal's charts it has been deducted that the bullion should trade sideways.
Gold found support and is set to reach the 1,207.50 level.