Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.2% against the USD and closed at USD1176.90 per ounce on Friday, amid weakness in the greenback following mixed US jobs data.
In the Asian session, at GMT0400, the pair is trading at 1178.8, with the gold trading 0.16% higher from Friday’s close.
The pair is expected to find support at 1170.30, and a fall through could take it to the next support level of 1161.80. The pair is expected to find its first resistance at 1185.40, and a rise through could take it to the next resistance level of 1192.00.
The yellow metal is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
