Gold Movement
On Friday Gold prices traded lower by 0.65% against the USD in the period ending 21:00GMT, at 1395.41 per ounce, as the greenback strengthened on positive US consumer sentiment data.
In the Asian session, at GMT0300, Gold is trading at 1390.11, 0.38% lower from Friday’s close, amid a delay in potential US military action against Syria, as US President, Barack Obama, sought Congressional support, boosting short-term risk appetite.
Gold is expected to find support at 1371.73, and a fall through could take it to the next support level of 1353.36. Gold is expected to find its first resistance at 1410.13, and a rise through could take it to the next resistance level of 1430.16.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
