Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.23% against the USD and closed at USD1293.00 per ounce on Friday, amid weakness in global equities and political uncertainty in Italy.
In the Asian session, at GMT0300, the pair is trading at 1288.40, with gold trading 0.36% lower against the USD from Friday’s close.
The pair is expected to find support at 1284.43, and a fall through could take it to the next support level of 1280.47. The pair is expected to find its first resistance at 1293.03, and a rise through could take it to the next resistance level of 1297.67.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
