Gold Movement
On Friday, Gold prices traded higher by 0.36% against the USD in the period ending 20:00GMT, at 1158.80 per ounce, notching a six-week high, as a slump in global equity markets drove investors to the safe haven metal.
In the Asian session, at GMT0300, the pair is trading at 1162.50, with gold trading 0.32% higher from Friday’s close.
The pair is expected to find support at 1151.60, and a fall through could take it to the next support level of 1140.70. The pair is expected to find its first resistance at 1170.30, and a rise through could take it to the next resistance level of 1178.10.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
