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 str…
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.
