Gold prices returned higher in the intraday levels with the overall guidance of the main upward trend in the medium and short terms, while trading within an ascending price channel that limited its previous short-term movements, with prices settling above the pivotal support of 1,238.50, with ongoing positive pressure from the SMA50, while the precious metal dipped last week as traders took profits and as prices tries to garner momentum, while noting an influx of positive signals from relative power indicators.

Therefore we expect more gains to come for the precious metal, targeting the pivotal resistance of 1,268.30.

Trend Bullish