Gold Movement
Gold prices traded lower by 0.45% against the USD in the 24 hour period ending 23:00GMT, at 1285.14 per ounce, hurt by a stronger US Dollar.
In the Asian session, at GMT0300, Gold is trading at 1286.22, 0.08% higher from yesterday’s close, ahead of the release of the US non-farm payrolls data.
Gold is expected to find support at 1280.66, and a fall through could take it to the next support level of 1275.10. Gold is expected to find its first resistance at 1292.92, and a rise through could take it to the next resistance level of 1299.62.
The yellow metal is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
