Gold Movement
On Friday Gold prices traded lower by 2.20% against the USD in the 24 hour period ending 24:00GMT, at 1678.08 per ounce, as the greenback strengthened, after upbeat US jobs data dampened hopes for additional monetary easing.
In the Asian session, at GMT0400, Gold is trading at 1679.68, 0.10% higher from Friday’s close.
Gold is expected to find support at 1665.12, and a fall through could take it to the next support level of 1650.55. Gold is expected to find its first resistance at 1703.90, and a rise through could take it to the next resistance level of 1728.12.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
