Gold Movement
On Friday, Gold prices traded higher by 0.36% against the USD in the period ending 21:00GMT, at 1187.40 per ounce, rebounding from its previous session losses, after US non-farm payrolls during April missed market expectations.
However, gains in gold prices were kept in check, after unemployment rate in the US dropped to a 7-year low in April.
In the Asian session, at GMT0300, the pair is trading at 1188.00, with the gold trading marginally higher from Friday’s close.
The pair is expected to find support at 1181.33, and a fall through could take it to the next support level of 1174.66. The pair is expected to find its first resistance at 1193.83, and a rise through could take it to the next resistance level of 1199.66.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
