Gold Movement
On Friday Gold prices traded higher by 0.91% against the USD in the period ending 21:00GMT, at 1237.93 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1235.50, 0.20% lower from Friday’s close, as nervous investors remained focused to gauge whether the Fed would stick to its monetary stimulus, as central bank policymakers gather for the last time in 2013 for a two-day policy meeting that concludes on Wednesday.
Gold is expected to find support at 1224.30, and a fall through could take it to the next support level of 1213.09. Gold is expected to find its first resistance at 1242.89, and a rise through could take it to the next resistance level of 1250.27.
The yellow metal is trading slightly above its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
