Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 1.37% against the USD and closed at USD1303.50 per ounce on Friday, amid weakness in the US dollar.
In the Asian session, at GMT0400, the pair is trading at 1308.10, with gold trading 0.35% higher against the USD from Friday’s close.
The pair is expected to find support at 1293.23, and a fall through could take it to the next support level of 1278.37. The pair is expected to find its first resistance at 1316.13, and a rise through could take it to the next resistance level of 1324.17.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
