Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.25% against the USD and closed at USD1431.50 per ounce on Friday, amid hopes of an interest rate cut by the US central bank.
In the Asian session, at GMT0300, the pair is trading at 1435.00, with gold trading 0.24% higher against the USD from Friday’s close.
The pair is expected to find support at 1427.87, and a fall through could take it to the next support level of 1420.73. The pair is expected to find its first resistance at 1439.87, and a rise through could take it to the next resistance level of 1444.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
