Gold Movement
On Friday, Gold prices traded higher by 1.16% against the USD in the period ending 21:00GMT, at 1207.90 per ounce, rebounding from its previous session losses.
Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, edged up to 736.04 tons, from its previous close of 733.06 tons.
In the Asian session, at GMT0300, the pair is trading at 1205.10, with the gold trading 0.23% lower from Friday’s close.
The pair is expected to find support at 1195.66, and a fall through could take it to the next support level of 1186.23. The pair is expected to find its first resistance at 1212.56, and a rise through could take it to the next resistance level of 1220.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
