Gold Movement
For the 24 hours to 23:00 GMT, Gold remained flat against the USD and closed at USD1229.00 per ounce on Friday.
In the Asian session, at GMT0300, the pair is trading at 1230.80, with gold trading 0.15% higher against the USD from Friday’s close.
The pair is expected to find support at 1226.63, and a fall through could take it to the next support level of 1222.47. The pair is expected to find its first resistance at 1234.53, and a rise through could take it to the next resistance level of 1238.27.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
