Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.87% against the USD and closed at USD1261.30 per ounce on Friday, as weakness in the greenback and decline in global equities boosted demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1260.20, with the gold trading 0.09% lower against the USD from Friday’s close.
The pair is expected to find support at 1252.53, and a fall through could take it to the next support level of 1244.87. The pair is expected to find its first resistance at 1265.73, and a rise through could take it to the next resistance level of 1271.27.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
