Gold Movement
Gold prices traded higher by 0.56% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,541.70 per ounce, as dollar weakened, after economic data signaled that the recovery may be faltering, boosting the appeal for precious metals.
In the Asian session at 3:00GMT, gold is trading at USD 1,545.33 per ounce, 0.24% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,553.32, with the next resistance at 1,561.31. The pair is expected to find support at 1,530.54 and subsequently at 1,515.75.
The yellow metal is trading just above its 20 Hr and its 50 Hr moving averages.
