Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.47% against the USD and closed at USD1323.70 per ounce on Friday, amid increased risk aversion as investors worried that a US led trade war could derail global economic growth.
In the Asian session, at GMT0400, the pair is trading at 1327.50, with gold trading 0.29% higher against the USD from Friday’s close, extending its gains from Friday’s session.
The pair is expected to find support at 1320.00, and a fall through could take it to the next support level of 1312.50. The pair is expected to find its first resistance at 1331.60, and a rise through could take it to the next resistance level of 1335.70.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
