Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.32% against the USD and closed at USD1207.70 per ounce on Friday, following weakness in the greenback after the inauguration speech of the 45th President of the US highlighted uncertainty about the path of US policy.
In the Asian session, at GMT0400, the pair is trading at 1216.70, with the gold trading 0.75% higher from Friday’s close.
The pair is expected to find support at 1203.47, and a fall through could take it to the next support level of 1190.23. The pair is expected to find its first resistance at 1224.67, and a rise through could take it to the next resistance level of 1232.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
