Gold Movement
Gold prices traded 1.42% higher against the USD in the 24-hour period ending 23:00GMT, at USD1342.30 per ounce, extending its gains for the third consecutive session, amid a broad weakness in the greenback.
Separately, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.41% to 953.91 tonnes, the highest since July 2013.
In the Asian session, at GMT0300, the pair is trading at 1346.10, with the gold trading 0.28% higher from Friday’s close.
The pair is expected to find support at 1330.37, and a fall through could take it to the next support level of 1314.63. The pair is expected to find its first resistance at 1361.07, and a rise through could take it to the next resistance level of 1376.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
