Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.86% against the USD and closed at USD1276.00, on Friday, amid weakness in the US Dollar and broad losses in equity markets.
In the Asian session, at GMT0300, the pair is trading at 1275.20, with the gold trading 0.06% lower against the USD from Friday’s close.
The pair is expected to find support at 1266.60, and a fall through could take it to the next support level of 1258.00. The pair is expected to find its first resistance at 1280.40, and a rise through could take it to the next resistance level of 1285.60.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
