The bullion gained some ground on Thursday after the massive fall experienced previously.
On Wednesday the yellow metal reached the lower trend line of the speculated channel up medium term pattern.
The yellow metal has booked more gains against the US Dollar, as it continues to surge without showing signs of stopping.
The recent short term breaking of a junior pattern has revealed more information to fully redraw the charts of the yellow metal.
The technical charts of the Bullion have been adjusted. One can see the new patterns that guide the metal.
The bullion has surged ignoring all technical levels.
On Tuesday morning the lower trend line of the descending channel pattern was broken.
On Monday, after failing to surge the bullion once more reached this year's low level near the 1,245.00 level.
The yellow metal had paused its decline on Friday morning.
On Thursday the yellow metal's price remained near the support of the long term descending channel pattern.
On Wednesday morning the yellow metal had steadily extended its decline by booking a new low level.
On Tuesday morning, the yellow metal's price had fallen down to trade close to the support line of a dominant pattern near the 1,255.00 mark.
On Monday morning the metal continued to trade in the previous range.
On Friday the yellow metal's price traded slightly higher. However it was still expected to decline in the longer term.
The yellow metal has extended its gains on Thursday, as the bullion's price had reached the 1,260 mark.
XAU/USD reaches one-month low level.
As Fundamental events took place on Friday, the bullion plummeted below all technical support levels and reached below the 1,280.00 level.
After breaching the 1,300 mark, the yellow metal's price declined on Friday.
On Thursday the yellow metal managed to pass the resistance of the 1,300 level.
Wednesday morning gave some clarity to the traders of the yellow metal, as the commodity price declined and moved out of the previous horizontal range.
On Tuesday morning the yellow metal's price remained below the 1,300 mark.
The bullion has made and failed at another attempt to surge above the 1,300.00 mark.
The most notable developments on Friday on the charts of the yellow metal were on the daily chart.
The yellow metal remains in the previous ranges. However, there is something more notable than the price level.