Gold Movement
For the 24 hours to 23:00 GMT, Gold rose slightly against the USD and closed at USD1254.60 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at 1263.90, with the gold trading 0.74% higher from Friday’s close.
The pair is expected to find support at 1248.87, and a fall through could take it to the next support level of 1233.83. The pair is expected to find its first resistance at 1273.27, and a rise through could take it to the next resistance level of 1282.63.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
