Gold Movement
On Friday, Gold prices traded higher by 0.73% against the USD in the period ending 21:00GMT, at 1097.50 per ounce, following a slump in the global equity markets.
Separately, gold holdings in the SPDR Gold Trust narrowed to 684.63 tons, from its previous level of 687.31 tons.
In the Asian session, at GMT0300, the pair is trading at 1097.10, with the gold trading a tad lower from Friday’s close.
The pair is expected to find support at 1082.30, and a fall through could take it to the next support level of 1067.50. The pair is expected to find its first resistance at 1106.70, and a rise through could take it to the next resistance level of 1116.30.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
