Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.47% against the USD and closed at USD1251.90 per ounce on Friday, reversing its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1250.00, with the gold trading 0.15% lower against the USD from Friday’s close.
The pair is expected to find support at 1243.4, and a fall through could take it to the next support level of 1236.80. The pair is expected to find its first resistance at 1254.70, and a rise through could take it to the next resistance level of 1259.40.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
