Gold Movement
Gold prices traded higher by 0.08% against the USD in the 24 hour period ending 23:00GMT, at 1061.70 per ounce, after downbeat economic releases in the US prompted investors to turn to the precious yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1062.8, with the gold trading 0.25% higher from Thursday’s close.
The pair is expected to find support at 1059.93, and a fall through could take it to the next support level of 1057.07. The pair is expected to find its first resistance at 1065.73, and a rise through could take it to the next resistance level of 1068.67.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
