Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.37% against the USD and closed at USD1201.40 per ounce on Friday, amid broad strength in the US dollar, following upbeat jobs data.
In the Asian session, at GMT0300, the pair is trading at 1199.90, with gold trading 0.12% lower against the USD from Friday’s close, on US rate hike expectations and trade war fears.
The pair is expected to find support at 1196.27, and a fall through could take it to the next support level of 1192.63. The pair is expected to find its first resistance at 1205.97, and a rise through could take it to the next resistance level of 1212.03.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
