Gold prices settled higher on Friday but trade lower on Monday morning despite the tax reform plan uncertainty and geopolitical risks. Gold is trading at $1277, down -0.38% as of 9:00 GMT.
According to ABC News, Michael Flynn will testify that President Donald Trump directed him to make contact with Russians when he was a presidential candidate.
Senator Mitch McConnel said on Friday morning that Republicans had the 50 votes they need to pass the tax bill.
Technical view
The Last session of Gold futures has been bullish although prices corrected and on Friday evening. Gold has formed the “Ascending broadening wedge” pattern as seen in the chart.
A break of the support line can signal a bearish momentum sand a test of $1260. Resistance holds at $1285 and Support holds at $1274.