On Monday, Gold prices surged after once more reaching below the 1,200.00 mark.
Gold reveals ascending pattern before surging to 1,215.
Gold is surging, ignoring almost all levels.
As it was expected during the couple of last trading sessions, gold prices finally fell.
By the middle of Tuesday's trading session the yellow metal had confirmed the previously broken pattern's support as resistance and began a decline.
On Monday, the gold price pierced long term support and declined below the 1,200 level.
Gold prices traded sideways on Friday in expectations of the US employment data set release at 12:30 GMT.
The metal has surged on Thursday, breaking a junior pattern.
The metal continued to trade sideways, by the middle of Wednesday's trading.
The yellow metal will trade sideways around the 1,195.00 mark.
The yellow metal continues to trade near 1,200.00.
On Thursday, the yellow metal's price remained near the 1,200.00 mark, where it had retreated down after another attempt to surge.
After making another attempt to pass the resistance of the ascending pattern on the hourly chart, the yellow metal plummeted down to the 1,200 mark.
One high level after another, that is the move of the bullion since Friday.
In the aftermath of central banking comments made by Jerome Powell on Friday, gold prices remained clearly above the 1,205.00 level on Monday.
The yellow metal is facing the combined resistance of the 55- and 100-hour SMAs at 1,192.00.
The medium term pattern of the daily chart has managed to hold its ground. It can be expected that the bullion will decline down to the 1,180.00 mark before it makes another attempt to surge.
The previously drawn junior pattern of the hourly chart has managed to break the upper trend line of another pattern. Although, the move was expected, as the metal is surging after encountering a massive scale pattern's lower trend line.
The surge of the bullion continued on Tuesday, as the metal passed the resistance of the 200-hour SMA. Due to that reason, no resistance laid on the path of the metal up to the 1,200 mark.
On Friday a breakout to the upside occurred on the yellow metal's charts. The action did not stop on Monday.
On Friday, gold prices remained at the same level. Although, the price was struggling with a combined resistance level at the 1,180. mark.
Gold prices have booked a new low level. However, after the reaching of the low level the bullion began to regain some of the losses on Thursday.
The decline of the bullion has extended itself even more than expected.
On Tuesday, the yellow metal slightly recovered after reaching below the 1,195.00 level