Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.46% against the USD and closed at USD1283.90 per ounce on Friday, as weakness in the US dollar and a decline in global equities boosted demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1277.30, with gold trading 0.51% lower against the USD from Friday’s close.
The pair is expected to find support at 1270.17, and a fall through could take it to the next support level of 1263.03. The pair is expected to find its first resistance at 1288.47, and a rise through could take it to the next resistance level of 1299.63.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
