The yellow metal is continuing to gain value against the buck in a large ascending channel.
The yellow metal lost its value, as concerns over situation in the Middle East have eased.
Anti-corruption arrests in the Saudi elite raised concern over stability in the Middle East and drove the prices of gold up.
Following a release of data on the US ISM Non-Manufacturing PMI, the exchange rate fell to the 1,266.00 mark.
Contrary to expectations, the new Fed Chair announcement did not cause great volatility in the marks.
Anticipation of the new Fed Chair pick led to short-term appreciation of the bullion againstthe buck.
Gold price increases, as traders anticipate the upcoming FOMC Statement and possible announcement of the new Fed Chair.
Due to escalation of the Catalan crisis, demand for the yellow metal increased and the pair returned back to the weekly PP near 1,274.00.
Due to ECB meeting, the Dollar appreciated against all major currencies, including the yellow metal yesterday.
Wednesday's trading session resulted in a breakout of the exchange rate from the falling wedge pattern.
The yellow metal is trading against the buck in recently formed falling wedge formation.
After the continuation of the decline of the bullion's price a rebound occurred on Tuesday morning.
In result of Shinzo Abe's confident victory, the Dollar strengthened against all major currencies, including the yellow metal.
Due to uneasy situation on the Iberian Peninsula, the yellow metal surged to the 1,290.50 level but then was forced to retreat by the 100- and 200-hour SMAs.
In result of the three-day fall, the exchange rate formed a falling wedge and made a breakout from it using the 61.8% Fibonacci retracement level, as a trampoline.
In result of the previous trading session, the exchange rate slipped not only through the 200-hour SMA, the weekly PP but also through the bottom boundary of an ascending channel.
In result of the previous trading session, the exchange rate made a breakout from the rising wedge formation.
In result of release of unfavourable inflation data, the bullion continued to rally against the buck.
Despite a release of better than expected data on the US Core PPI, the yellow metal continued to appreciate against the buck.
Due to uncertainty expressed by some of the FOMC members, the yellow metal continued to gain value against the buck.
Continuous escalation of the North Korean crisis drove the pair towards the weekly R2 at 1,294.86 yesterday.
Due to continuous fears related to possible escalation of the North Korean crisis as well as some other fundamental factors, the gold continued to gain value against the buck yesterday.
An escalation of the North Korean crisis forced traders to actively transfer their funds into yellow metal, thus defusing the effect from surprising release of information about the US labour market.
In result of a rebound which matched with a speech delivered by Governor Powell, the plunged to the weekly S1 at 1,266.63.