Gold Movement
On Friday Gold prices traded higher by 1.01% against the USD in the period ending 21:00GMT, at 1296.40 per ounce, amid bargain hunting.
In the Asian session, at GMT0300, Gold is trading at 1290.22, 0.48% lower from Friday’s close.
Gold is expected to find support at 1283.80, and a fall through could take it to the next support level of 1277.37. Gold is expected to find its first resistance at 1299.60, and a rise through could take it to the next resistance level of 1308.97.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
