Gold Movement
On Friday, Gold prices traded lower by 2.66% against the USD in the period ending 21:00GMT, at 1166.60 per ounce, amid a broad strength in the greenback, on the back of robust economic data in the US.
Separately, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged at 760.80 tons on Friday.
In the Asian session, at GMT0400, the pair is trading at 1168.90, with the gold trading 0.2% higher from Friday’s close.
The pair is expected to find support at 1154.53, and a fall through could take it to the next support level of 1140.16. The pair is expected to find its first resistance at 1191.63, and a rise through could take it to the next resistance level of 1214.36.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
