XAUUSD (1236.73): Gold advanced higher on the day on Monday as price action was seen inching closer to the 1242.25 level of resistance and the next target. In the near term, support is seen at 1227.10 which could be tested on a dip. Establishing support at this level will signal further gains to the upside. Alternately, failure to hold the declines at 1227.10 could potentially risk gold to erase the gains and inch ower to the support level at 1217.00
