Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.3% against the USD and closed at USD1242.50 per ounce on Friday, amid strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1241.40, with gold trading 0.09% lower against the USD from Friday’s close.
The pair is expected to find support at 1236.43, and a fall through could take it to the next support level of 1231.47. The pair is expected to find its first resistance at 1246.43, and a rise through could take it to the next resistance level of 1251.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
