During the previous trading session, the yellow metal appreciated against the US Dollar by 1874 pips or 1.46%. Note, the monthly R1 stopped the surge at 1,304.27. On Monday morning, the exchange currency rate was trading at 1,300.00.
In regards to the near-term future, most likely, the gold will be trading sideways to stay at the 1,295.00 level during the trading session.
On the other hand, the yellow metal could take the support of the dominant pattern line at 1,299.40 mark to push the rate to surge towards the monthly R1 at 1,304.27.
