Gold Movement
Gold prices traded higher by 0.65% against the USD in the 24-hour period ending 23:00GMT, at 1275.20 per ounce, reversing its previous session gains.
However, the gains in gold prices were capped after an upbeat US retail sales data boosted expectations that the US Federal Reserve will raise interest rates more than once this year.
In the Asian session, at GMT0300, the pair is trading at 1277.80, with the gold trading 0.2% higher from Friday’s close.
The pair is expected to find support at 1267.53, and a fall through could take it to the next support level of 1257.27. The pair is expected to find its first resistance at 1284.53, and a rise through could take it to the next resistance level of 1291.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
