Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.49% against the USD and closed at USD1334.30 per ounce on Friday, as threat of a possible US government shutdown spurred demand for the safe-haven metal.
In the Asian session, at GMT0400, the pair is trading at 1330.90, with gold trading 0.25% lower against the USD from Friday’s close.
The pair is expected to find support at 1327.60, and a fall through could take it to the next support level of 1324.30. The pair is expected to find its first resistance at 1336.20, and a rise through could take it to the next resistance level of 1341.50.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
