Gold Movement
For the 24 hours to 23:00 GT, Gold declined 0.83% against the USD and closed at USD1325.40 per ounce on Friday, as gains in US equities dented demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1322.30, with the gold trading 0.23% lower against the USD from Friday’s close.
The pair is expected to find support at 1316.10, and a fall through could take it to the next support level of 1309.90. The pair is expected to find its first resistance at 1332.20, and a rise through could take it to the next resistance level of 1342.10.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
