Gold Movement
Gold prices traded 0.79% higher against the USD in the 24-hour period ending Friday 23:00GMT, at USD1328.30 per ounce, after weaker-than-expected US non-farm payrolls data lessened the likelihood of a near-term Federal Reserve interest rate hike.
In the Asian session, at GMT0300, the pair is trading at 1328.20, with the gold trading marginally lower from Friday’s close.
The pair is expected to find support at 1312.40, and a fall through could take it to the next support level of 1296.60. The pair is expected to find its first resistance at 1339.00, and a rise through could take it to the next resistance level of 1349.80.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
