Gold Movement
On Friday Gold prices traded higher by 1.77% against the USD in the period ending 21:00GMT, at 1391.62 per ounce, as the greenback lost ground following the release of a downbeat US employment data. Gold prices also got some support from media reports that highlighted Russian President, Vladimir Putin’s stance of assisting Syria if attacked by the Western powers.
In the Asian session, at GMT0300, Gold is trading at 1388.98, 0.19% lower from Friday’s close.
Gold is expected to find support at 1366.79, and a fall through could take it to the next support level of 1344.59. Gold is expected to find its first resistance at 1402.99, and a rise through could take it to the next resistance level of 1416.99.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
