Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.72% against the USD and closed at USD1196.00 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at 1193.00, with gold trading 0.25% lower against the USD from Friday’s close.
The pair is expected to find support at 1185.53, and a fall through could take it to the next support level of 1178.07. The pair is expected to find its first resistance at 1199.23, and a rise through could take it to the next resistance level of 1205.47.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
