Gold Movement
On Friday, Gold prices traded higher by 0.14% against the USD in the period ending 21:00GMT, at 1190.50 per ounce, as disappointing GDP data from the US enhanced demand for the safe-haven yellow metal.
Separately, gold holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged at 715.86 tons, from its previous close of 715.26 tons.
In the Asian session, at GMT0300, the pair is trading at 1190.30, with the gold trading a tad lower from Friday’s close.
The pair is expected to find support at 1184.96, and a fall through could take it to the next support level of 1179.63. The pair is expected to find its first resistance at 1196.66, and a rise through could take it to the next resistance level of 1203.03.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
