Gold Movement
Gold prices traded marginally higher against the USD in the 24 hour period ending 23:00GMT, at 1071.10 per ounce. However, the gains in gold prices were capped, amid a broad strength in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1066.7, with the gold trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 1063.77, and a fall through could take it to the next support level of 1060.83. The pair is expected to find its first resistance at 1071.77, and a rise through could take it to the next resistance level of 1076.83.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
