Gold Movement
On Friday Gold prices traded lower by 0.14% against the USD in the period ending 21:00GMT, at 1242.28 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1240.50, 0.14% lower from Friday’s close, as demand for safe-haven assets dampened after Iran reached an historic agreement with the world powers to roll back its nuclear programme.
Gold is expected to find support at 1235.60, and a fall through could take it to the next support level of 1230.70. Gold is expected to find its first resistance at 1247.25, and a rise through could take it to the next resistance level of 1254.00.
The yellow metal is trading just below its 20 Hr and 50 Hr moving averages.
