Gold weakened against the US Dollars on Monday morning, but the yellow metal has appreciated 2.02% against the US Dollar during the Friday’s trading session showing strong uptrend movements during the day. During Monday’s morning hours, Gold was at 1,204.69, just above the monthly S1 (1,202.25) as support level to recover itself.
The 55-hour and 100-hour SMAs have crossed at midnight hours and keep moving together. Such movements may flash strong bullish signals for traders. The nearest support level is the monthly S1 at 1,202.25, while the nearest resistance level is the monthly PP at 1,234.16.
