Forex: XAU/USD aims to medium pattern line

During the previous trading session, the yellow metal traded between the 100-hour and the 200-hour simple moving averages. On Thursday, the gold was located below the monthly pivot point at the 1,306.10 mark.

In regards to the near-term future, most likely, the 100-hour and the 200-hour SMAs will push the rata towards the bottom boundary of the medium pattern line at 1,302.00.

Besides, it is expected that today’s US Retails Sales, Core Retail Sales, PPI and Core PPI data release at 13:30 GMT will push the yellow metal to depreciate against the US Dollar.