Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.26% against the USD and closed at USD1316.70 per ounce on Friday, as strength in the greenback and a rebound in US equity markets dented demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1325.40, with gold trading 0.66% higher against the USD from Friday’s close.
The pair is expected to find support at 1315.73, and a fall through could take it to the next support level of 1306.07. The pair is expected to find its first resistance at 1332.53, and a rise through could take it to the next resistance level of 1339.67.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
