Gold Movement
On Friday Gold prices traded higher by 0.13% against the USD in the period ending 21:00GMT, at 1323.95 per ounce, as a lacklustre housing data from the US and violence in Ukraine bolstered the safe-haven appeal of the metal.
In the Asian session, at GMT0400, Gold is trading at 1320.53, 0.26% lower from Friday’s close.
Gold is expected to find support at 1314.75, and a fall through could take it to the next support level of 1308.98. Gold is expected to find its first resistance at 1327.63, and a rise through could take it to the next resistance level of 1334.74.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
