Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.16% against the USD and closed at USD1287.00 per ounce on Friday, after the US raised tariffs on Chinese goods.
In the Asian session, at GMT0300, the pair is trading at 1285.20, with gold trading 0.14% lower against the USD from Friday’s close.
The pair is expected to find support at 1282.70, and a fall through could take it to the next support level of 1280.20. The pair is expected to find its first resistance at 1289.00, and a rise through could take it to the next resistance level of 1292.80.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
