“¢ Having defended 100-day SMA support last Thursday, the precious metal picked up the pace and climbed to over one-week tops on the first trading day of a new week.
“¢ The positive mood remained intact for the second consecutive session, with bulls making a fresh attempt to extend the momentum beyond the key $1300 psychological mark.
“¢ Oscillators have been gaining positive traction on hourly charts and also recovered from the negative territory on the daily chart, supporting prospects for a further positive move.
“¢ A sustained move beyond the mentioned handle will reaffirm the constructive outlook and lift the commodity towards $1311-12 immediate resistance en-route $1323 supply zone.
Gold daily chart
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