Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.42% against the USD and closed at USD1241.10 per ounce on Friday, amid strength in US dollar and US equites.
In the Asian session, at GMT0300, the pair is trading at 1242.40, with gold trading 0.10% higher against the USD from Friday’s close.
The pair is expected to find support at 1236.53, and a fall through could take it to the next support level of 1230.67. The pair is expected to find its first resistance at 1247.93, and a rise through could take it to the next resistance level of 1253.47.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
