Gold Movement
On Friday Gold prices traded lower by 1.52% against the USD in the period ending 21:00GMT, at 1288.25 per ounce, after the US Dollar strengthened following upbeat US non-farm payrolls data.
In the Asian session, at GMT0400, Gold is trading at 1287.09, 0.09% lower from Friday’s close.
Gold is expected to find support at 1274.24, and a fall through could take it to the next support level of 1261.39. Gold is expected to find its first resistance at 1306.88, and a rise through could take it to the next resistance level of 1326.67.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
