Gold Movement
On Friday, Gold prices traded lower by 1.81% against the USD in the 24 hour period ending 23:00GMT, at 1725.46 per ounce, as better-than-expected data in the US reduced demand for the precious metal.
In the Asian session, at GMT0400, Gold is trading at 1733.240, 0.45% higher from Friday’s close.
Gold is expected to find support at 1716.77, and a fall through could take it to the next support level of 1700.3. Gold is expected to find its first resistance at 1756.53, and a rise through could take it to the next resistance level of 1779.83.
The yellow metal is trading below its 20 Hr and its 50 Hr moving averages.
