Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.88% against the USD and closed at USD1710.60 per ounce on Friday, after US President, Donald Trump threatened to impose new tariffs against China.
In the Asian session, at GMT0300, the pair is trading at 1706.00, with gold trading 0.27% lower against the USD from Friday’s close.
The pair is expected to find support at 1683.20, and a fall through could take it to the next support level of 1660.40. The pair is expected to find its first resistance at 1721.60, and a rise through could take it to the next resistance level of 1737.20.
The yellow metal is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
