Gold Movement
On Friday Gold prices traded higher by 1.16% against the USD in the 24 hour period ending 23:00GMT, at 1576.47 per ounce, amid bargain hunting.
In the Asian session, at GMT0300, Gold is trading at 1575.66, 0.05% lower from Friday’s close.
Gold is expected to find support at 1559.00, and a fall through could take it to the next support level of 1542.35. Gold is expected to find its first resistance at 1584.83, and a rise through could take it to the next resistance level of 1594.00.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
