Gold Movement
Gold prices traded higher 1.74% against the USD in the 24 hour period ending 23:00GMT, at 1132.30 per ounce, after a weak US jobs report raised doubts on whether the Federal Reserve would be able to hike its interest rates this year.
In the Asian session, at GMT0300, the pair is trading at 1136.9, with the gold trading 0.41% higher from Friday’s close.
The pair is expected to find support at 1113.50, and a fall through could take it to the next support level of 1090.10. The pair is expected to find its first resistance at 1150.60, and a rise through could take it to the next resistance level of 1164.30.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
