Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.28% against the USD and closed at USD1237.70 per ounce on Friday, amid weakness in the greenback and global equities.
In the Asian session, at GMT0400, the pair is trading at 1235.80, with gold trading 0.15% lower against the USD from Friday’s close.
The pair is expected to find support at 1230.53, and a fall through could take it to the next support level of 1225.27. The pair is expected to find its first resistance at 1243.53, and a rise through could take it to the next resistance level of 1251.27.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
