Gold Movement
On Friday Gold prices traded higher by 1.91% against the USD in the 24 hour period ending 24:00GMT, at 1582.60 per ounce, as the greenback weakened after US recorded worse-than-expected jobs data in March.
In the Asian session, at GMT0300, Gold is trading at 1579.39, 0.20% lower from Friday’s close.
Gold is expected to find support at 1558.38, and a fall through could take it to the next support level of 1537.37. Gold is expected to find its first resistance at 1591.80, and a rise through could take it to the next resistance level of 1604.21.
The yellow metal is trading above its 20 Hr and its 50 Hr moving averages.
