Gold Movement
On Friday, Gold prices traded higher by 0.86% against the USD in the 24 hour period ending 23:00GMT, at 1603.23 per ounce, as the greenback weakened, after better-than-expected US employment data lent support to risk appetite.
In the Asian session, at GMT0300, Gold is trading at 1604.6, 0.09% higher from Friday’s close.
Gold is expected to find support at 1591.08, and a fall through could take it to the next support level of 1577.56. Gold is expected to find its first resistance at 1612.47, and a rise through could take it to the next resistance level of 1620.34.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.