• Gold prices started the day in negative note, falling as low 1227 levels, before bouncing higher in the American session.
   
• Following three days of downtrend, the yellow metal was heading for its first weekly drop as a stronger dollar and higher equities kept investor interest in check.
   
• The commodity is poised to breach the support level located at 1228 and fall further towards downside as the dollar is stronger across the board against yellow metal.
   
• To the upside, the strong resistance can be seen 1237, a break above this level would expose the commodity towards 1243 levels.
   
• To the downside immediate support can be seen at 1228, a break below at this level will open the door towards 1216 levels.
  
  Support levels: S1-1228, S2-1216, S3-1200
  
  Resistance levels: R1-1237, R2-1243, R3-1251