Gold Movement
On Friday, Gold prices traded lower by 0.97% against the USD in the period ending 21:00GMT, at 1132.70 per ounce, following upbeat economic releases in the US, thus bolstering the chances of a rate hike by the Fed in this year.
In the Asian session, at GMT0300, the pair is trading at 1107.40, with the gold trading 2.23% lower from Friday’s close.
The pair is expected to find support at 1076.76, and a fall through could take it to the next support level of 1046.13. The pair is expected to find its first resistance at 1141.26, and a rise through could take it to the next resistance level of 1175.13.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
