Gold – Daily close above $1263 would strengthen bulls
Resistance - $1283, $1300, $1310
Support - $1263, $1253, $1237
Support - $1263, $1253, $1237
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Broad based USD weakness and sharp rally in Silver has pushed gold above key hurdle of $1263.
- Doors would be opened for a rally towards $1300-1310 levels if the prices manage to see a day end closing above $1263 levels.
- On the downside, a break below $1255 could see prices re-test 50-DMA at $1237. Bears could gain an upper hand only in case of day end closing below rising trend line level currently seen around $1234.