Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.41% against the USD and closed at USD1257.00 per ounce on Friday, boosted by a weaker greenback.
In the Asian session, at GMT0300, the pair is trading at 1256.70, with the gold trading slightly lower against the USD from Friday’s close.
The pair is expected to find support at 1252.07, and a fall through could take it to the next support level of 1247.43. The pair is expected to find its first resistance at 1260.67, and a rise through could take it to the next resistance level of 1264.63.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
