Gold Movement
For the 24 hours to 23:00 GMT, the Gold rose 0.54% against the USD and closed at USD1274.10 per ounce on Friday, as the Catalan Parliament’s independence declaration from Spain raised demand for the safe-haven asset.
In the Asian session, at GMT0400, the pair is trading at 1272.40, with the Gold trading 0.13% lower from Friday’s close.
The pair is expected to find support at 1265.7333, and a fall through could take it to the next support level of 1259.06. The pair is expected to find its first resistance at 1277.13, and a rise through could take it to the next resistance level of 1281.86.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
