Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.40% against the USD and closed at USD 1328.6 per ounce, after robust US economic data led to a broad strength in the greenback and dented demand for the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1329.40, with the gold trading 0.06% higher from Friday’s close.
The pair is expected to find support at 1321.50, and a fall through could take it to the next support level of 1313.60. The pair is expected to find its first resistance at 1338.40, and a rise through could take it to the next resistance level of 1347.40.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
