Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.15% against the USD and closed at USD1297.60 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at USD1297.60, with gold trading flat against the USD from Friday’s close.
The pair is expected to find support at 1291.07, and a fall through could take it to the next support level of 1284.53. The pair is expected to find its first resistance at 1304.37, and a rise through could take it to the next resistance level of 1311.13.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its and 50 Hr moving average.
