Gold Movement
For the 24 hours to 23:00 GMT, Gold slightly rose against the USD and closed at USD1280.90 per ounce on Friday, amid weakness in the US equities.
In the Asian session, at GMT0400, the pair is trading at 1280.00, with gold trading 0.07% lower against the USD from Friday’s close.
The pair is expected to find support at 1277.23, and a fall through could take it to the next support level of 1274.47. The pair is expected to find its first resistance at 1283.73, and a rise through could take it to the next resistance level of 1287.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
