Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.88% against the USD and closed at USD1989.90 per ounce on Friday, as the US dollar weakened.
In the Asian session, at GMT0300, the pair is trading at 1992.50, with gold trading 0.13% higher against the USD from Friday’s close.
The pair is expected to find support at 1977.07, and a fall through could take it to the next support level of 1961.63. The pair is expected to find its first resistance at 2006.67, and a rise through could take it to the next resistance level of 2020.83.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
