• The yellow metal surged higher on Monday extending gains from Fridays close, gaining more than 2 percent to hit highest level since June as stocks markets declined and worries over global economic growth continued to grow pushing investors towards riskier assets.
  
  
• Gold is likely to advance further as the demand for the yellow metal is set to increase further in the coming days.
  
  
• Currently the commodity is approaching to resistance level at 1200. 
  
  
• To the upside, the strong resistance can be seen 1211, a break above this level would expose the commodity towards 1177 levels.
  
  
• To the downside immediate support can be seen at 1188, a break below at this level will open the door towards 1145 levels.
  
  Recommendation: Go long around 1170 with targets 1210/ 1230,SL 1120
  
  Support levels: S1-1188, S2-1177, S3-1163
  
  Resistance levels: R1-1198, R2-1211, R3-1224