Gold is testing 200-day moving average support within a falling wedge pattern, with confirmation levels above resistance needed to validate a potential bullish reversal.
Gold rallies as Oil rout eases inflation fears
Silver and platinum are also moving higher in today's trading session.
The gold market has rallied a bit early on Thursday, as we are looking at the interest rate movements as a massive influence on where we are going next.
Gold advances as US-Iran deal hopes improve following Israel-Lebanon ceasefire
Gold Price Forecast: XAU/USD approaches $4.500 amid US Dollar's weakness
Gold prices rose to 4,472 USD per troy ounce on Thursday. Despite the modest rebound, the precious metal is still attempting to recover from a weekly decline of nearly 2%.
Gold rebounded to test a downtrend channel resistance around the 4480-96 zone. As long as the market holds below this resistance, the downtrend pressure could return towards 4360.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data