Gold Movement
Gold prices traded lower by 0.60% against the USD in the 24 hour period ending 23:00GMT, at 1205.90 per ounce, amid a broad strength in the greenback.
Meanwhile, gold holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged at 771.25 tons.
In the Asian session, at GMT0400, the pair is trading at 1209.40, with the gold trading 0.29% higher from yesterday’s close.
The pair is expected to find support at 1195.00, and a fall through could take it to the next support level of 1180.60. The pair is expected to find its first resistance at 1223.40, and a rise through could take it to the next resistance level of 1237.40.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
