For the 24 hours to 23:00 GMT, Gold rose 1.33% against the USD and closed at USD1754 per ounce on Friday, amid fears that growing coronavirus cases would force governments to impose new lockdown restrictions.
In the Asian session, at GMT0300, the pair is trading at 1767.70, with gold trading 0.78% higher against the USD from Friday’s close.
The pair is expected to find support at 1741.90, and a fall through could take it to the next support level of 1716.10. The pair is expected to find its first resistance at 1785.10, and a rise through could take it to the next resistance level of 1802.50.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.