Gold Movement
On Friday Gold prices traded lower by 0.08% against the USD in the period ending 21:00GMT, at 1243.70 per ounce, hurt by a stronger US Dollar.
In the Asian session, at GMT0400, Gold is trading at 1244.22, marginally higher from Friday’s close.
Gold is expected to find support at 1236.88, and a fall through could take it to the next support level of 1229.55. Gold is expected to find its first resistance at 1253.27, and a rise through could take it to the next resistance level of 1262.33.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
