Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.56% against the USD and closed at USD1560.90 per ounce on Friday.
In the Asian session, at GMT0400, the pair is trading at 1558.70, with gold trading 0.14% lower against the USD from Friday’s close.
The pair is expected to find support at 1554.20, and a fall through could take it to the next support level of 1549.70. The pair is expected to find its first resistance at 1562.30, and a rise through could take it to the next resistance level of 1565.90.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
