Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.39% against the USD and closed at USD1507.60 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at 1508.10, with gold trading a tad higher against the USD from Friday’s close.
The pair is expected to find support at 1502.93, and a fall through could take it to the next support level of 1497.77. The pair is expected to find its first resistance at 1516.53, and a rise through could take it to the next resistance level of 1524.97.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
