Gold Movement
Gold prices traded lower by 1.33% against the USD in the 24-hour period ending 23:00GMT, at 1235.00 per ounce, amid a broad strength in the greenback.
In the Asian session, at GMT0300, the pair is trading at 1234.8, with the gold trading marginally lower from Friday’s close.
The pair is expected to find support at 1224.73, and a fall through could take it to the next support level of 1214.67. The pair is expected to find its first resistance at 1248.63, and a rise through could take it to the next resistance level of 1262.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
