Gold Movement
Gold prices traded higher by 1.40% against the USD in the 24 hour period ending 23:00GMT, at 1065.10 per ounce, reversing its previous session losses, amid a broad slump in global equity markets.
In the Asian session, at GMT0400, the pair is trading at 1068.2, with the gold trading 0.29% higher from Friday’s close.
The pair is expected to find support at 1055.33, and a fall through could take it to the next support level of 1042.47. The pair is expected to find its first resistance at 1076.03, and a rise through could take it to the next resistance level of 1083.87.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
