Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.51% against the USD and closed at USD1524.80 per ounce on Friday, amid strength in the US equities.
In the Asian session, at GMT0300, the pair is trading at 1519.50, with gold trading 0.35% lower against the USD from Friday’s close.
The pair is expected to find support at 1511.03, and a fall through could take it to the next support level of 1502.57. The pair is expected to find its first resistance at 1530.83, and a rise through could take it to the next resistance level of 1542.17.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
