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Gold: Yellow Metal Trading On A Stronger Footing In The Morning Session

For the 24 hours to 23:00 GMT, Gold rose 0.58% against the USD and closed at USD1229.80 per ounce on Friday, amid weakness in US dollar and US equities.

In the Asian session, at GMT0300, the pair is trading at 1231.90, with gold trading 0.17% higher against the USD from Friday’s close.

The pair is expected to find support at 1220.67, and a fall through could take it to the next support level of 1209.43. The pair is expected to find its first resistance at 1239.17, and a rise through could take it to the next resistance level of 1246.43.

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

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