Gold prices rose in thin holiday trading in Asia on Monday ahead of a U.S. holiday. U.S. markets remain closed today, so the volume is extremely low.
It is expected that trading volumes remain light with UK markets closed for a public holiday and the markets in closing the remaining U.S. for the holiday of Memorial Day.
On the Comex , gold division for delivery in August rose 0.09%, or $ 1.20, to trade at $ 1293.10 a troy ounce during early European morning hours.
Prices are steady within a narrow range between $ 1291.10 and $ 1294.40 an ounce.
The prices of gold were likely to find support at $ 1,277.00 an ounce, the low of May 12 and resistance at $ 1305.70, the high of May 19.
There will be no ground trading on the Comex on Monday due to the holiday of Memorial Day. All online transactions are bookable May 27 with settlement transactions.
MCX Gold – Silver is trading at the edge. At MCX, gold August futures delivery was trading at Rs 27382 per 10 gram, up Rs 33, or 0.12 percent.