Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.62% against the USD and closed at USD1279.00 per ounce on Friday, amid a broad weakness in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1277.60, with the gold trading 0.11% lower from Friday’s close.
The pair is expected to find support at 1264.60, and a fall through could take it to the next support level of 1251.60. The pair is expected to find its first resistance at 1288.00, and a rise through could take it to the next resistance level of 1298.40.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
