Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.82% against the USD and closed at USD1275.50 per ounce on Friday, surrendering its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 1276.10, with the gold trading marginally higher against the USD from Friday’s close.
The pair is expected to find support at 1270.97, and a fall through could take it to the next support level of 1265.83. The pair is expected to find its first resistance at 1283.87, and a rise through could take it to the next resistance level of 1291.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
