Gold Stabilizes After $100 Drop

Following a nearly $100 decrease, gold traded calmly on Monday. The initial resistance level gold may face is at 2320. Above this level, 2330 and 2355 are subsequent important levels to watch. Conversely, on the downside, the first level likely to support the price is 2280. If this level is breached and selling pressure intensifies, 2265 and 2245 will become notable support levels to monitor, respectively.