• Gold prices inched higher at the beginning of the week, with yellow metal hitting highest at 1254 an ounce in the early European session, before retreating back towards 1251 levels.
   
• Weak economic data and uncertainty surrounding Fed’s monetary policy has contributed to risk aversion, boosting investors’ appetite for the yellow metal and Japanese yen perceived as safe haven.
   
• The commodity is poised to breach the resistance level located at 1255 and advance further towards upside as the dollar is weaker across the board against yellow metal.
   
• To the upside, the strong resistance can be seen 1255, a break above this level would expose the commodity towards 1260 levels.
   
• To the downside immediate support can be seen at 1243, a break below at this level will open the door towards 1236 levels.
  
  Support levels: S1-1243, S2-1236, S3-1228
  
  Resistance levels: R1-1255, R2-1260, R3-1267