Gold Movement
On Friday Gold prices traded higher by 1.12% against the USD in the period ending 21:00GMT, at 1237.38 per ounce, amid reports of rising physical demand in Asia.
In the Asian session, at GMT0400, Gold is trading at 1238.82, 0.12% higher from Friday’s close.
Gold is expected to find support at 1228.46, and a fall through could take it to the next support level of 1218.10. Gold is expected to find its first resistance at 1247.82, and a rise through could take it to the next resistance level of 1256.82.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
