April Gold futures are trading higher by $8.30 at $1129.10 per ounce in Monday's session.
The catalyst for the rally is cautious comments from a Goldman Sachs economist regarding concerns over implementation of policies and the fact they differ from the platform President Donald Trump was elected on.
After making several attempts to close over the resistance area of $1220.00, the April contract ended Friday's session at $1120.80. Following a higher open, it matched that closing price (which stands as the low for the session) and began to move higher.
So far, the ensuing rally has come up shy of the quintuplet of highs from mid-November at the $1236.00 area, as $1232.20 stands as the current high for the session.
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