Gold Movement
Gold prices traded lower by 0.83% against the USD in the 24 hour period ending 23:00GMT, at 1099.40 per ounce, reversing its previous session gains, after upbeat US jobs data dented demand for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1103.8, with the gold trading 0.4% higher from Friday’s close.
The pair is expected to find support at 1094.30, and a fall through could take it to the next support level of 1084.80. The pair is expected to find its first resistance at 1110.80, and a rise through could take it to the next resistance level of 1117.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
