Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.09% against the USD and closed at USD1512.00 per ounce on Friday, after US recorded modest jobs growth in September and the nation’s unemployment rate dropped to its lowest level in 50 years.
In the Asian session, at GMT0300, the pair is trading at 1513.20, with gold trading 0.08% higher against the USD from Friday’s close.
The pair is expected to find support at 1502.33, and a fall through could take it to the next support level of 1491.47. The pair is expected to find its first resistance at 1523.13, and a rise through could take it to the next resistance level of 1533.07.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
