Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.98% against the USD and closed at USD1520.50 per ounce on Friday, amid uncertainty over US-China trade negotiations after the US President Donald Trump announced further sanctions on Iran and China.
In the Asian session, at GMT0300, the pair is trading at 1524.60, with gold trading 0.27% higher against the USD from Friday’s close.
The pair is expected to find support at 1511.33, and a fall through could take it to the next support level of 1498.07. The pair is expected to find its first resistance at 1532.43, and a rise through could take it to the next resistance level of 1540.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
