Gold Movement
On Friday Gold prices traded higher by 0.46% against the USD for the period ending 21:00GMT, at 1352.70 per ounce, as positive sentiment was fuelled amid speculation that upcoming festive season in India might boost demand for the commodity in the nation, known as the world’s largest importer of gold.
In the Asian session, at GMT0400, Gold is trading at 1350.91, 0.13% lower from Friday’s close.
Gold is expected to find support at 1338.76, and a fall through could take it to the next support level of 1326.62. Gold is expected to find its first resistance at 1359.78, and a rise through could take it to the next resistance level of 1368.66.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
