Gold Movement
On Friday Gold prices traded lower by 0.90% against the USD in the 24 hour period ending 23:00GMT, at 1580.81 per ounce, as the greenback strengthened.
In the Asian session, at GMT0300, Gold is trading at 1581.88, 0.07% higher from Friday’s close.
Gold is expected to find support at 1572.98, and a fall through could take it to the next support level of 1564.08. Gold is expected to find its first resistance at 1590.80, and a rise through could take it to the next resistance level of 1599.71.
The yellow metal is showing convergence with its 20 Hr moving average and trading below 50 Hr moving average.
