Gold Movement
For the 24 hours to 23:00 GMT, the Gold declined 0.33% against the USD and closed at 1098.10, as hints of more monetary stimulus from the ECB dented demand for the yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1102.20, with the gold trading 0.37% higher from Friday’s close.
The pair is expected to find support at 1096.57, and a fall through could take it to the next support level of 1090.93. The pair is expected to find its first resistance at 1105.67, and a rise through could take it to the next resistance level of 1109.13.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
