Gold Movement
Gold prices traded lower by 0.74% against the USD in the 24-hour period ending 23:00GMT, at 1224.40 per ounce, after a stronger-than-expected US non-farm payrolls data dented demand for the precious yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1219.3, with the gold trading 0.42% lower from Friday’s close.
The pair is expected to find support at 1207.33, and a fall through could take it to the next support level of 1195.37. The pair is expected to find its first resistance at 1234.23, and a rise through could take it to the next resistance level of 1249.17.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
