Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.25% against the USD and closed at USD1253.20 per ounce on Friday, amid weakness in greenback.
In the Asian session, at GMT0300, the pair is trading at 1252.00, with gold trading 0.10% lower against the USD from Friday’s close.
The pair is expected to find support at 1246.90, and a fall through could take it to the next support level of 1241.80. The pair is expected to find its first resistance at 1257.10, and a rise through could take it to the next resistance level of 1262.20.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
