Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.64% against the USD and closed at USD1257.90 per ounce on Friday, as political uncertainty around the world fuelled demand for the safe-haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1257.20, with the gold trading 0.06% lower against the USD from Friday’s close.
The pair is expected to find support at 1251.13, and a fall through could take it to the next support level of 1245.07. The pair is expected to find its first resistance at 1262.23, and a rise through could take it to the next resistance level of 1267.27.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
