Gold Movement
For the 24 hours to 23:00 GMT, the Gold rose 0.71% against the USD and closed at USD1255.8 per ounce on Friday, as the US Dollar weakened against other currencies amid current political crisis in the US.
In the Asian session, at GMT0300, the pair is trading at 1252.5, with the gold trading 0.26% lower against the Dollar from Friday’s close.
The pair is expected to find support at 1247.3667, and a fall through could take it to the next support level of 1242.2333. The pair is expected to find its first resistance at 1257.3667, and a rise through could take it to the next resistance level of 1262.2333.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
