• The yellow metal initially inched higher in the early US sessions, but rebound in the dollar prompted the investors to cash in profits after biggest daily rise this month.
           . 
• Gold is likely to come under pressure as the dollar is set to strengthen across the board ahead of Fridays US retail sales data.
   
• Currently the commodity is trading at 1271 levels, it is set to decline future towards 1260 and later 1250 levels in the short term.
   
• To the upside, the strong resistance can be seen 1277, a break above this level would expose the commodity towards 1286 levels.
• To the downside immediate support can be seen at 1260, a break below at this level will open the door towards 1252 levels.
  
  Support levels: S1-1260, S2-1252, S3-1240
  
  Resistance levels: R1-1277, R2-1286, R3-1295