Gold Movement

For the 24 hours to 23:00 GMT, Gold declined 0.49% against the USD and closed at USD1258.30 per ounce on Friday, amid strength in the US dollar.

In the Asian session, at GMT0400, the pair is trading at 1266.70, with gold trading 0.67% higher against the USD from Friday’s close.

The pair is expected to find support at 1260.00, and a fall through could take it to the next support level of 1253.30. The pair is expected to find its first resistance at 1270.50, and a rise through could take it to the next resistance level of 1274.30.

The yellow metal is trading above its 20 Hr and 50 Hr moving averages.

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