Gold Movement
On Friday Gold prices traded lower by 0.38% against the USD in the period ending 21:00GMT, at 1310.93 per ounce, as stronger US Dollar weighed on the demand prospect of the dollar-denominated precious metal.
In the Asian session, at GMT0300, Gold is trading at 1312.50, 0.12% higher from Friday’s close.
Gold is expected to find support at 1303.39, and a fall through could take it to the next support level of 1294.27. Gold is expected to find its first resistance at 1323.76, and a rise through could take it to the next resistance level of 1335.01.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
