Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.07% against the USD and closed at USD1217.20 per ounce on Friday, after the latest US jobs report flagged up weak wage growth, thus weakening the case for near-term interest rate hikes by the Federal Reserve.
In the Asian session, at GMT0400, the pair is trading at 1225.30, with the gold trading 0.67% higher from Friday’s close.
The pair is expected to find support at 1213.40, and a fall through could take it to the next support level of 1201.50. The pair is expected to find its first resistance at 1232.10, and a rise through could take it to the next resistance level of 1238.90.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
