Gold Movement
For the 24 hours to 23:00 GMT, Gold rose marginally against the USD and closed at 1262.30. However, the gains in gold prices were capped after the release of better-than-expected US non-farm payrolls data.
In the Asian session, at GMT0400, the pair is trading at 1261.40, with the gold trading 0.69% lower from Friday’s close.
The pair is expected to find support at 1247.43, and a fall through could take it to the next support level of 1233.47. The pair is expected to find its first resistance at 1278.03, and a rise through could take it to the next resistance level of 1294.67.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
