Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.3% against the USD and closed at USD1296.30 per ounce on Friday, lifted by a broad weakness in the US Dollar and the US-North Korean geopolitical tensions.
In the Asian session, at GMT0300, the pair is trading at 1293.40, with the gold trading 0.22% lower against the USD from Friday’s close.
The pair is expected to find support at 1287.37, and a fall through could take it to the next support level of 1281.33. The pair is expected to find its first resistance at 1298.77, and a rise through could take it to the next resistance level of 1304.13.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
