Gold Movement
Gold prices traded higher by 1.89% against the USD in the 24 hour period ending 23:00GMT, at 1082.70 per ounce, extending its previous session gains. However, gold prices pared its gains, after a strong US non-farm payrolls figure cemented the case of a Fed rate hike this month.
In the Asian session, at GMT0400, the pair is trading at 1084.4, with the gold trading 0.16% higher from Friday’s close.
The pair is expected to find support at 1064.97, and a fall through could take it to the next support level of 1045.53. The pair is expected to find its first resistance at 1096.07, and a rise through could take it to the next resistance level of 1107.73.
The yellow metal is trading above its 20 Hr and 50 Hr moving average.
