Gold Movement
On Friday, Gold prices traded lower by 0.17% against the USD in the 24 hour period ending 24:00GMT, at 1684.30 per ounce, after traders ignored a spate of encouraging Chinese economic data points to focus more on concerning news out of the US and the Euro-zone.
In the Asian session, at GMT0400, Gold is trading at 1689.95, 0.34% higher from Friday’s close.
Gold is expected to find support at 1684.17, and a fall through could take it to the next support level of 1678.38. Gold is expected to find its first resistance at 1695.57, and a rise through could take it to the next resistance level of 1701.18.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
