Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.11% against the USD and closed at USD1470.50 per ounce on Friday, as better than expected US economic data dented demand for the safe haven asset.
In the Asian session, at GMT0400, the pair is trading at 1468.00, with gold trading 0.17% lower against the USD from Friday’s close.
The pair is expected to find support at 1462.83, and a fall through could take it to the next support level of 1457.67. The pair is expected to find its first resistance at 1476.73, and a rise through could take it to the next resistance level of 1485.47.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
