Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.73% against the USD and closed at USD1353.70 per ounce on Friday, as lingering fears of a global trade war enticed investors to turn to the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1353.20, with gold trading slightly lower against the USD from Friday’s close.
The pair is expected to find support at 1345.03, and a fall through could take it to the next support level of 1336.87. The pair is expected to find its first resistance at 1358.83, and a rise through could take it to the next resistance level of 1364.47.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
