Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.82% against the USD and closed at USD1264.90 per ounce, as demand for the precious metal eased after better-than-expected US employment data boosted gains in the US Dollar.
In the Asian session, at GMT0300, the pair is trading at 1263.90, with the gold trading 0.08% lower against the USD from Friday’s close.
The pair is expected to find support at 1256.97, and a fall through could take it to the next support level of 1250.03. The pair is expected to find its first resistance at 1273.67, and a rise through could take it to the next resistance level of 1283.43.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
