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XAU/USD is currently trading around $1112 level and made intraday high at $1113.68 levels.
- Weakening US dollar and another fall in oil prices boosted demand for safe-haven assets.
- The Fed is scheduled to meet later this week and the bank is expected to keep its federal funds rate unchanged.
- If pair holds and stabilise above $1112, then only more upside levels can be seen.
- On the top side, major resistance levels fall at $1117, $1122 and $1127 levels.
- Alternatively, reversal from this level brings the parity below $1107 levels and $1100 thereafter.
