Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.67% against the USD and closed at USD1402.00 per ounce on Friday, amid expectations of an interest rate cut by the Federal Reserve and persistent geopolitical tensions in the Middle East.
In the Asian session, at GMT0300, the pair is trading at 1409.60, with gold trading 0.54% higher against the USD from Friday’s close.
The pair is expected to find support at 1392.00, and a fall through could take it to the next support level of 1374.40. The pair is expected to find its first resistance at 1421.30, and a rise through could take it to the next resistance level of 1433.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
