Gold halts near a one-year low of 1,208.00 for the second time.
XAU/USD was guided by a junior descending channel pattern.
As expected, the bullion was pressured downwards in the last 24 hours,
By looking at the charts of the yellow metal one can observe that the metal has broken all of the trend lines previously drawn on the hourly chart. However,
After some increase of volatility the yellow metal's price has remained near the 1,220.00 mark.
On Tuesday morning the decline of the yellow metal's price continued, as the price traded near the 1,220 mark.
On Monday morning it could be observed that the yellow metal's price pierced the support of a medium term ascending channel pattern.
Friday's session begins with XAU/USD trading with low volatility
Breakout has occurred through the upper boundary of a descending channel on the XAU/USD pair today.
XAU/USD fails to accelerate on Tuesday.
Gold is starting to show some signs of a recovery.
Gold is starting to show some signs of a recovery.
The strengthening of the US Dollar early today has pushed Gold even lower down to 1,222.00.
The decline of the bullion started later than expected on Thursday. However, it still trades in a descending channel pattern.
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.