Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.41% against the USD and closed at USD1552.20 per ounce on Friday, as escalating tensions in the Middle East boosted demand for the safe haven asset.
In the Asian session, at GMT0400, the pair is trading at 1580.50, with gold trading 1.82% higher against the USD from Friday’s close.
The pair is expected to find support at 1553.10, and a fall through could take it to the next support level of 1525.70. The pair is expected to find its first resistance at 1595.20, and a rise through could take it to the next resistance level of 1609.90.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
