Gold Movement
On Friday, Gold prices traded lower by 0.21% against the USD in the period ending 21:00GMT, at 1121.80 per ounce, after the release of mixed US employment data failed to provide clarity over the timing of an interest rate hike by the Fed.
Separately, gold holdings in the SPDR Gold Trust remained unchanged at 682.59 tons, from its previous level.
In the Asian session, at GMT0300, the pair is trading at 1122.70, with the gold trading 0.08% higher from Friday’s close.
The pair is expected to find support at 1114.56, and a fall through could take it to the next support level of 1106.43. The pair is expected to find its first resistance at 1131.96, and a rise through could take it to the next resistance level of 1141.23.
The yellow metal is trading between its 20 Hr moving average and 50 Hr moving averages.
