Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.35% against the USD and closed at USD1234.40 per ounce on Friday, reversing its previous session losses.
In the Asian session, at GMT0400, the pair is trading at 1230.50, with the gold trading 0.32% lower from Friday’s close.
The pair is expected to find support at 1222.43, and a fall through could take it to the next support level of 1214.37. The pair is expected to find its first resistance at 1238.73, and a rise through could take it to the next resistance level of 1246.97.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
