Gold Movement
On Friday Gold prices traded lower by 0.72% against the USD in the 24 hour period ending 24:00GMT, at 1446.35 per ounce, as the greenback strengthened on signs of improvement in the US economy, eroding the safe haven demand for the precious metal.
In the Asian session, at GMT0300, Gold is trading at 1430.55, 1.09% lower from Friday’s close.
Gold is expected to find support at 1412.75, and a fall through could take it to the next support level of 1394.95. Gold is expected to find its first resistance at 1455.31, and a rise through could take it to the next resistance level of 1480.07.
The yellow metal is trading below its 20 Hr and its 50 Hr moving averages.
