PRECIOUS METALS::: Gold counter is trading at 1294.45, 0.27% below from its previous close. The precious metal is likely to dance on the tunes of Building Permits data that measures the change in the number of new building permits issued by the government. Higher numbers are expected to drag the the precious metal while lower than expected numbers will bring more optimism. On hourly scale, the yellow metal is forming a ‘Bullish Flag’ pattern, which is a trend following pattern whose reliability is very high. The pair is expected to witness more upside once it will break 1303.5 levels. The counter is trading above 100 hours Exponential Moving Average. RSI is expected to bounce back from these levels.