Gold Movement
On Friday Gold prices traded higher by 0.69% against the USD in the period ending 21:00GMT, at 1253.30 per ounce, amid weakness in the US Dollar.
In the Asian session, at GMT0400, Gold is trading at 1246.74, 0.52% lower from Friday’s close.
Gold is expected to find support at 1239.10, and a fall through could take it to the next support level of 1231.46. Gold is expected to find its first resistance at 1256.44, and a rise through could take it to the next resistance level of 1266.14.
The yellow metal is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
