For the 24 hours to 23:00 GMT, Gold rose 1.38% against the USD and closed at USD1505.50 per ounce, as dismal US jobs data revived concerns about a recession in the US.
In the Asian session, at GMT0300, the pair is trading at 1506.70, with gold trading 0.08% higher against the USD from yesterday’s close.
The pair is expected to find support at 1487.67, and a fall through could take it to the next support level of 1468.63. The pair is expected to find its first resistance at 1518.57, and a rise through could take it to the next resistance level of 1530.43.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
