Gold Movement
On Friday, Gold prices traded lower by 1.14% against the USD in the period ending 21:00GMT, at 1191.40 per ounce, after non-farm payrolls increased more than anticipated in November, denting the demand outlook of the precious yellow metal.
Meanwhile, holdings of the SPDR Gold Trust remained unchanged at 720.02 tons.
In the Asian session, at GMT0400, the pair is trading at 1192.3, with the gold trading 0.08% higher from Friday’s close.
The pair is expected to find support at 1182.96, and a fall through could take it to the next support level of 1173.63. The pair is expected to find its first resistance at 1205.06, and a rise through could take it to the next resistance level of 1217.83.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
