Gold Movement
On Friday Gold prices traded higher by 1.31% against the USD in the 24 hour period ending 24:00GMT, at 1752.56 per ounce, rising above $1,750 per ounce for the first time in five weeks, as the greenback weakened.
In the Asian session, at GMT0400, Gold is trading at 1750.33, 0.13% lower from Friday’s close, as traders booked profits after prices rallied to their highest in more than a month in the previous session.
Gold is expected to find support at 1734.68, and a fall through could take it to the next support level of 1719.02. Gold is expected to find its first resistance at 1760.24, and a rise through could take it to the next resistance level of 1770.15.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
