Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.46% against the USD and closed at USD1302.00 per ounce on Friday, amid weakness in the US dollar.
In the Asian session, at GMT0400, the pair is trading at 1298.80, with gold trading 0.25% lower against the USD from Friday’s close.
The pair is expected to find support at 1295.17, and a fall through could take it to the next support level of 1291.53. The pair is expected to find its first resistance at 1304.37, and a rise through could take it to the next resistance level of 1309.93.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
