Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.41% against the USD and closed at USD1252.90 per ounce on Friday, after the failure of the US President, Donald Trump, to pass healthcare reform increased risk aversion among investors.
In the Asian session, at GMT0300, the pair is trading at 1259.60, with the gold trading 0.53% higher against the USD from Friday’s close.
The pair is expected to find support at 1248.50, and a fall through could take it to the next support level of 1237.40. The pair is expected to find its first resistance at 1265.90, and a rise through could take it to the next resistance level of 1272.20.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
