Gold keeps 2-week highs near $1,330

The ounce troy of the precious metal is clinging to its daily gains on Monday, trading in a tight range around $1,330.

Gold supported around $1,325

The persistent selling bias in the greenback is helping the USD-denominated assets to trade in the positive territory at the beginning of the week, with Bullion adding to Friday’s advance although gains seem to be capped around $1,335 for the time being.

Prospects of the Fed sticking to its ‘pause’ mode for longer have been supporting the demand for Gold, specially after Friday’s Payrolls have missed expectations.

Gold key levels

As of writing Gold is up 0.14% at $1,330.85 and a break above $1,355 (high Aug.16) would open the door to $1,366.00 (high Aug.2) and finally $1,374.90 (2016 high Jul.6). On the other hand, the immediate support lines up at $1,301.50 (low Sep.1) followed by $1,312.80 (low Jul.21) and then $1,301.34 (23.6% Fibo of the 2016 up move).