• Gold rose on Monday, buoyed by safe-haven demand due to uncertainty over U.S. policy ahead of President-elect Donald Trump's inauguration and amid concerns over Britain's exit from the European Union.
• Spot gold had risen 0.5 percent to $1,203.15 per ounce by 0548 GMT.
• "Buying shows that people are looking ahead this week with Trump's inauguration and discussions on Brexit. There is a lot of uncertainty moving forward," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central.
• "On the physical side, people are expecting good demand from China ahead of the Chinese New Year," Lan said. The Lunar New Year falls later this month
• "We expect gold to retest $1,205-$1,207 again and breaching this might see $1,220 as the next level."
• Spot gold faces strong resistance at $1,205-$1,210 per ounce and it may hover below that or retrace towards support at $1,172, according to Reuters technical analyst Wang Tao.
• All eyes will be on Trump's inauguration on Friday for any clarity on his economic plans, with investors often turning to gold as a so-called safe-haven in times of economic uncertainty.
• Trump's campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, as well as driving a selloff in Treasuries, but his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions.
• Meanwhile, Prime Minister Theresa May on Tuesday will call on Britons to reject the acrimony of the Brexit referendum in a speech that some newspapers have billed as setting the stage for a "hard" exit from the EU.
• Investors have been enticed into gold this month as questions over Federal Reserve policy and the Trump administration drive a bigger than usual January bounce in a beaten-down market.
• Hedge funds and money managers in the week to Jan. 10 raised their net long position in COMEX gold contracts for the first time in nine weeks.
Reference:Reuters
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