Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.32% against the USD and closed at USD1323.00 per ounce on Friday, amid weakness in the greenback following disappointing US wage growth data.
In the Asian session, at GMT0400, the pair is trading at USD1323.30 per ounce, with gold trading slightly higher against the USD from Friday’s close.
The pair is expected to find support at 1315.70, and a fall through could take it to the next support level of 1308.10. The pair is expected to find its first resistance at 1328.40, and a rise through could take it to the next resistance level of 1333.50.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
