Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.49% against the USD and closed at USD1357.90 per ounce on Friday, as disappointing US GDP report led to a broad weakness in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1352.80, with gold trading 0.38% lower against the USD from Friday’s close.
The pair is expected to find support at 1348.20, and a fall through could take it to the next support level of 1343.60. The pair is expected to find its first resistance at 1359.20, and a rise through could take it to the next resistance level of 1365.60.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
