Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.29% against the USD and closed at USD1559.00 per ounce on Friday, as disappointing US jobs data boosted demand of the safe haven asset.
In the Asian session, at GMT0400, the pair is trading at 1557.60, with gold trading 0.09% lower against the USD from Friday’s close.
The pair is expected to find support at 1548.17, and a fall through could take it to the next support level of 1538.73. The pair is expected to find its first resistance at 1565.57, and a rise through could take it to the next resistance level of 1573.53.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
