Gold Movement
Gold prices traded higher by 0.16% against the USD in the 24 hour period ending 23:00GMT, at 1402.01 per ounce, as demand for the safe haven yellow metal increased after a much awaited US private-sector jobs data disappointed investors.
In the Asian session, at GMT0300, Gold is trading at 1398.88, 0.22% lower from yesterday’s close.
Gold is expected to find support at 1392.93, and a fall through could take it to the next support level of 1386.98. Gold is expected to find its first resistance at 1407.79, and a rise through could take it to the next resistance level of 1416.70.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
