Gold Movement
Gold prices traded 1.34% higher against the USD in the 24-hour period ending 23:00GMT, at USD 1301.40 per ounce, amid a broad weakness in the greenback.
Separately, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.59% to 907.88 tonnes, the highest since September 2013.
In the Asian session, at GMT0300, the pair is trading at 1284.20, with the gold trading 1.32% lower from Friday’s close.
The pair is expected to find support at 1276.17, and a fall through could take it to the next support level of 1268.13. The pair is expected to find its first resistance at 1297.47, and a rise through could take it to the next resistance level of 1310.73.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
