Gold returns back to 1,330 level on Thursday

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Gold prices were little changed in North American trade on Thursday, staying close to a three-week low hit overnight as market players digested mixed U.S. data and comments from European Central Bank President Mario Draghi."  
– based on investing.com 

Pair's Outlook 
The yellow metal was trading flat at the start of this week, as it slightly fluctuated around the 1,330 level on Monday and Tuesday. However, the metal fell on Wednesday to around the level of 1,312, which seemed to indicate at the bullions new direction. Although, on Thursday gold surged back to 1,330 level, and it continues to be close by it, as the metal was trading at exactly 1,327.40 by 5:15 GMT. It seems that the commodity is most likely to continue to trade flat, as daily aggregate technical indicators forecast no change for it today.  

Traders' Sentiment 
Traders remain neutral on the yellow metal, as 50% of open SWFX positions are long on Friday. In the meantime, pending orders in the 100-pip range are 67% long.
© Dukascopy Bank SA

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