Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.3% against the USD and closed at USD 1340.3 per ounce, extending its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1344.2, with the gold trading 0.29% higher from Friday’s close, as disappointing second quarter GDP figures from Japan signalled further accommodative monetary policy.
The pair is expected to find support at 1334.17, and a fall through could take it to the next support level of 1324.13. The pair is expected to find its first resistance at 1358.37, and a rise through could take it to the next resistance level of 1372.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
