Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.13% against the USD and closed at USD1517.60 per ounce on Friday, amid broad weakness in the US dollar.
In the Asian session, at GMT0400, the pair is trading at 1518.10, with gold trading marginally higher against the USD from Friday’s close.
The pair is expected to find support at 1513.50, and a fall through could take it to the next support level of 1508.90. The pair is expected to find its first resistance at 1521.30, and a rise through could take it to the next resistance level of 1524.50.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
