Gold Movement
On Friday, Gold prices traded lower by 0.06% against the USD in the period ending 21:00GMT, at 1238.20 per ounce, as the greenback gained ground following the release of better than expected economic data from the US.
In the Asian session, at GMT0300, the pair is trading at 1237.00, with the gold trading 0.1% lower from Friday’s close.
The pair is expected to find support at 1231.96, and a fall through could take it to the next support level of 1226.93. The pair is expected to find its first resistance at 1242.06, and a rise through could take it to the next resistance level of 1247.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
