Gold Standstill Near 6-month High – Volatility Fades Over Holidays
Arslan Butt • 1 min read
GOLD held steady after climbing a six-month peak on Friday, backed by a weaker dollar. The concerns over global economic growth and turbulent stock markets drive the bullion to the second week of gains.
At the moment, the precious metal’s price remains bullish above the $1,274 support area. The market is slow but definitely bullish over rising demand for haven assets. On the upper side, gold can remain under pressure beneath the resistance area around $1,283.
Key Trading Level: 1273.78
GOLD – XAU/USD – Trade Plan
Consider buy positions above $1,274 support zone with a stop loss below $1,270 and take profit around $1,282 today.