Gold Movement
On Friday, Gold prices traded marginally higher against the USD in the period ending 21:00GMT, at 1114.70 per ounce, on the back of mixed economic data from the US.
Separately, gold holdings in the SPDR Gold Trust remained unchanged at 671.87 tons, from its previous level.
In the Asian session, at GMT0300, the pair is trading at 1115.60, with the gold trading 0.08% higher from Friday’s close.
The pair is expected to find support at 1111.00, and a fall through could take it to the next support level of 1106.40. The pair is expected to find its first resistance at 1120.30, and a rise through could take it to the next resistance level of 1125.00.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
