For the 24 hours to 23:00 GMT, Gold declined 0.15% against the USD and closed at USD1234.00 per ounce on Friday, amid strength in the US dollar.
In the Asian session, at GMT0400, the pair is trading at 1233.50, with gold trading a tad lower against the USD from Friday’s close.
The pair is expected to find support at 1230.40, and a fall through could take it to the next support level of 1227.30. The pair is expected to find its first resistance at 1237.50, and a rise through could take it to the next resistance level of 1241.50.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.