Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.23% against the USD and closed at USD1294.30 per ounce on Friday, led by weakness in the US Dollar following uncertainty over the fate of a major US tax reform plan.
In the Asian session, at GMT0400, the pair is trading at 1292.00, with gold trading 0.18% lower against the USD from Friday’s close.
The pair is expected to find support at 1282.83, and a fall through could take it to the next support level of 1273.67. The pair is expected to find its first resistance at 1299.33, and a rise through could take it to the next resistance level of 1306.67.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
