Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.09% against the USD and closed at USD1268.10 per ounce on Friday, as uncertainty surrounding the outcome of the US Presidential election increased demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1263.60, with the gold trading 0.35% lower from Friday’s close.
The pair is expected to find support at 1260.60, and a fall through could take it to the next support level of 1257.60. The pair is expected to find its first resistance at 1267.70, and a rise through could take it to the next resistance level of 1271.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
