Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.69% against the USD and closed at USD1199.00 per ounce on Friday, as upbeat US economic data, boosted strength in the US dollar.
In the Asian session, at GMT0300, the pair is trading at 1199.40, with gold trading a tad higher against the USD from Friday’s close.
The pair is expected to find support at 1193.33, and a fall through could take it to the next support level of 1187.27. The pair is expected to find its first resistance at 1209.63, and a rise through could take it to the next resistance level of 1219.87.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
