Gold Movement
For the 24 hours to 23:00 GMT, Gold fell 2.82% against the USD and closed at USD1222.90 per ounce on Friday, as increased risk appetite among investors dampened safe-haven appeal of the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1216.90, with the gold trading 0.49% lower from Friday’s close.
The pair is expected to find support at 1198.40, and a fall through could take it to the next support level of 1179.90. The pair is expected to find its first resistance at 1249.80, and a rise through could take it to the next resistance level of 1282.70.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
