Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.08% against the USD and closed at USD1229.20 per ounce on Friday, amid weakness in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1231.00, with the gold trading 0.15% higher from Friday’s close.
The pair is expected to find support at 1226.13, and a fall through could take it to the next support level of 1221.27. The pair is expected to find its first resistance at 1235.93, and a rise through could take it to the next resistance level of 1240.87.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
