Gold Movement
Gold prices traded lower by 0.19% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,742.65 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1715.40, 1.56% lower from Friday’s close, after Japan’s intervention in the currency market triggered a rapid rally in the dollar, spooking precious metals investors.
Gold is expected to find support at 1698.56, and a fall through could take it to the next support level of 1681.73. Gold is expected to find its first resistance at 1739.90, and a rise through could take it to the next resistance level of 1764.41.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
