Gold Movement
On Friday, Gold prices traded marginally higher against the USD, at 1578.80 per ounce. Gains in the yellow metal were limited as the US Dollar rose, after the US jobs data outperformed market expectations.
In the Asian session, at GMT0400, Gold is trading at 1580.80, 0.13% higher from Friday’s close.
Gold is expected to find support at 1566.88, and a fall through could take it to the next support level of 1552.97. Gold is expected to find its first resistance at 1589.38, and a rise through could take it to the next resistance level of 1597.97.
The yellow metal is trading just above its 20 Hr and 50 Hr moving averages.
