Gold Steady

Gold is not showing any aggressive moves these past few days as price appears to have settled around $1,318-$1,310. The precious metal has not been registering any news from the US or EU as currencies fluctuate with higher than usual volatility.

Bears may try to take the price down to the 200SMA which would equal $1,290. Currently, price is below the 50SMA and just over the 100SMA, marking a turning point.

Bulls will need weak data coming out of the US in order for them to try and bring the price to first resistance level of $1,365.

On the other hand, if bears dominate the field, they will move price towards the 200SMA and if this level is breached, Gold is exposed to lower prices around $1,240-$1,230.

Chart: XAU/USD D1