Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.62% against the USD and closed at USD1304.20 per ounce on Friday, as disappointing US inflation figures led to a decline in the US Dollar.
In the Asian session, at GMT0300, the pair is trading at 1304.60, with the gold trading slightly higher against the USD from Friday’s close.
The pair is expected to find support at 1296.03, and a fall through could take it to the next support level of 1287.47. The pair is expected to find its first resistance at 1310.03, and a rise through could take it to the next resistance level of 1315.47.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
