Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.68% against the USD and closed at USD1277.40 per ounce on Friday, as the US dollar strengthened, on the back of upbeat US economic data.
In the Asian session, at GMT0300, the pair is trading at 1275.70, with gold trading 0.13% lower against the USD from Friday’s close.
The pair is expected to find support at 1270.53, and a fall through could take it to the next support level of 1265.37. The pair is expected to find its first resistance at 1284.93, and a rise through could take it to the next resistance level of 1294.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
