Gold Higher Amidst Trade Concerns

Gold is trading higher in today's session just less than an hour before the opening of the US session. The precious metal went to a high of $1,265 earlier today and gave away some its gains to currently trade at $1,263.36.

Gold reached a strong support level on the long term at $1,237 earlier this month and market participants quick to get a hold on to the safe haven as trade concerns started looming last week.

If Gold continues on its way north, we can expect to see first resistance level at $1,280. If that level is broken, second resistance level is seen at $1,310 - a double top after the psychological $1,300 level.

This week is lighter on events and so we can expect smooth sailing based predominantly on technicals.

Chart: XAU/USD H4