Gold Movement
Gold prices traded marginally lower against the USD in the 24-hour period ending 23:00GMT, amid a broad strength in global equity markets.
Separately, assets in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% to 817.81 tonnes.
In the Asian session, at GMT0300, the pair is trading at 1252.3, with the gold trading 0.85% higher from Friday’s close.
The pair is expected to find support at 1237.57, and a fall through could take it to the next support level of 1222.83. The pair is expected to find its first resistance at 1260.47, and a rise through could take it to the next resistance level of 1268.63.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
