Gold Movement
On Friday, Gold prices traded higher by 2.64% against the USD in the period ending 21:00GMT, at 1234.57 per ounce, as the precious metal’s recent decline prompted bargain hunting.
In the Asian session, at GMT0300, Gold is trading at 1241.29, 0.54% higher from Friday’s close.
Gold is expected to find support at 1203.91, and a fall through could take it to the next support level of 1166.53. Gold is expected to find its first resistance at 1261.93, and a rise through could take it to the next resistance level of 1282.57.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
