GOLD N' SILVER UPDATE

GOLD

Gold declined 0.82% against the USD and closed at USD1264.90 per ounce, as demand for the precious metal eased after better-than-expected US employment data boosted gains in the US Dollar.

In the Asian session, the pair is trading at 1263.90,trading 0.08% lower against the USD from Friday’s close.

The pair is expected to find support at 1256.97, and a fall through could take it to the next support level of 1250.03. The pair is expected to find its first resistance at 1273.67, and a rise through could take it to the next resistance level of 1283.43.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

SILVER

Silver declined 2.46% against the USD and closed at USD16.26 per ounce on Friday, tracking losses in gold prices.

The Asian session, saw the pair trading at 16.23, with the white metal trading 0.22% lower against the USD from Friday’s close.

The pair is expected to find support at 16.01, and a fall through could take it to the next support level of 15.80. The pair is expected to find its first resistance at 16.59, and a rise through could take it to the next resistance level of 16.96.

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