Gold Movement
Gold prices traded higher by 0.87% against the USD in the 24 hour period ending 23:00GMT, at 1187.80 per ounce, despite the greenback strengthening against some major currencies.
Separately, gold holdings in the SPDR Gold Trust, edged up to a level of 741.75 tons, from its previous level of 739.06 tons.
In the Asian session, at GMT0300, the pair is trading at 1186.60, with the gold trading 0.1% lower from yesterday’s close.
The pair is expected to find support at 1180.03, and a fall through could take it to the next support level of 1173.46. The pair is expected to find its first resistance at 1192.63, and a rise through could take it to the next resistance level of 1198.66.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
