Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.93% against the USD and closed at USD1161.50 per ounce on Friday, after robust consumer confidence data in the US intensified expectations of a Federal Reserve interest rate hike later this week.
In the Asian session, at GMT0400, the pair is trading at 1160.70, with the gold trading 0.07% lower from Friday’s close.
The pair is expected to find support at 1153.27, and a fall through could take it to the next support level of 1145.83. The pair is expected to find its first resistance at 1170.97, and a rise through could take it to the next resistance level of 1181.23.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
