Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.21% against the USD and closed at USD1508.70 per ounce on Friday, amid weak US consumer sentiment data and expectations of rate cut by major central banks.
In the Asian session, at GMT0400, the pair is trading at 1506.80, with gold trading 0.13% lower against the USD from Friday’s close.
The pair is expected to find support at 1499.63, and a fall through could take it to the next support level of 1492.47. The pair is expected to find its first resistance at 1517.43, and a rise through could take it to the next resistance level of 1528.07.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
