Gold Movement
On Friday, Gold prices traded higher by 0.73% against the USD in the 24 hour period ending 23:00GMT, at 1625.80 per ounce, as the greenback weakened.
In the Asian session, at GMT0300, Gold is trading at 1621.20, 0.28% lower from Friday’s close.
Gold is expected to find support at 1613.14, and a fall through could take it to the next support level of 1605.07. Gold is expected to find its first resistance at 1629.31, and a rise through could take it to the next resistance level of 1637.41.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
