Since Friday’s trading session, the yellow metal depreciated against the US Dollar by 831 pips or 0.64% to place the rate at the 1,282.50 mark.
In regards to the near-term future, the gold will trade towards the 1,286.00 level, where it could be retraced by the simple moving averages to stay at the 1,284.00 level.
On the other hand, during the trading session, the yellow metal could depreciate towards the 1,275.00 level.
