Gold Movement
On Friday, Gold prices traded lower by 0.43% against the USD for the period ending 21:00GMT, at 1222.40 per ounce, after the US consumer sentiment index jumped more than expected in December, thus decreasing the demand outlook for the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1217.70, with the gold trading 0.38% lower from Friday’s close.
The pair is expected to find support at 1211.80, and a fall through could take it to the next support level of 1205.90. The pair is expected to find its first resistance at 1225.80, and a rise through could take it to the next resistance level of 1233.90.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
