Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.13% against the USD and closed at USD1319.60 per ounce on Friday, reversing its previous session gains.
In the Asian session, at GMT0300, the pair is trading at 1320.60, with gold trading 0.08% higher against the USD from Friday’s close.
The pair is expected to find support at 1316.30, and a fall through could take it to the next support level of 1312.00. The pair is expected to find its first resistance at 1325.60, and a rise through could take it to the next resistance level of 1330.60.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
