Gold Movement
Gold prices traded lower by 0.37% against the USD in the 24-hour period ending 23:00GMT, at 1,253.20 per ounce, extending its two-day slide, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1,255.10, with the gold trading 0.15% higher from Friday’s close.
The pair is expected to find support at 1,249.40, and a fall through could take it to the next support level of 1,243.70. The pair is expected to find its first resistance at 1,261.00, and a rise through could take it to the next resistance level of 1,266.90.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
