Gold Movement
On Friday Gold prices traded lower by 0.65% against the USD in the period ending 21:00GMT, at 1315.35 per ounce, as a stronger US Dollar weighed on the demand outlook of the dollar-denominated commodity.
In the Asian session, at GMT0400, Gold is trading at 1313.14, 0.17% lower from Friday’s close.
Gold is expected to find support at 1303.50, and a fall through could take it to the next support level of 1293.86. Gold is expected to find its first resistance at 1325.28, and a rise through could take it to the next resistance level of 1337.42.
The yellow metal is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
