Gold Movement
On Friday, Gold prices traded lower by 0.18% against the USD in the period ending 21:00GMT, at 1196.40 per ounce, reversing its previous session gains, on the back of a broad strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1197.70, with the gold trading 0.11% higher from Friday’s close.
The pair is expected to find support at 1193.43, and a fall through could take it to the next support level of 1189.16. The pair is expected to find its first resistance at 1201.73, and a rise through could take it to the next resistance level of 1205.76.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
