Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 1.01% against the USD and closed at USD1210.00 per ounce on Friday, after better-than-expected US non-farm payrolls data paved the way for another Fed interest rate hike this year.
In the Asian session, at GMT0300, the pair is trading at 1211.10, with the gold trading 0.09% higher against the USD from Friday’s close.
The pair is expected to find support at 1202.43, and a fall through could take it to the next support level of 1193.77. The pair is expected to find its first resistance at 1223.93, and a rise through could take it to the next resistance level of 1236.77.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
