Gold prices fell to 50-DMA of $1232.63 as Asian equities extended the risk-on rally seen on Wednesday and the US dollar strengthened to 95.00 handle. Drops for third consecutive day The metal is trading weak for the third consecutive day as risk-on rally in the equities is restricting safe haven demand for the metal. In overnight trading, Dow index also strengthened 1%. Prices thus fell to a session low of $1229 levels before recovering to 50-DMA level of $1232.63 levels. Ahead in the day, the metal remains at the mercy of action in the dollar index and European stock markets. Gold Technical Levels The immediate resistance is seen at $1244.12 (Mar 30 high), above which prices could target $1262.77 (Apr 12 high). On the other hand, a break below $1232.694 (50-DMA) would expose $1207.69 (Mar 28 low). For more information, read our latest forex news.